- US stock futures down slightly.
- Oil prices extend rally to two-week highs.
- Mixed dollar, pound and kiwi among the worst currencies.
After posting big gains on Wednesday, Wall Street futures are falling modestly on Thursday, with markets in “year-end” mode. Oil prices continue to advance, the dollar remains in no clear direction, as are sovereign bonds.
Slight setback after holiday
Wall Street indices had the best day of the month on Wednesday with increases of around 1.50%. In Thursday’s preview, S&P 500 futures are down 0.12% and Nasdaq futures are down 0.11%.. Asian stocks closed positive, matching US markets with the Hang Seng gaining 2.70%. In Europe, the FTSE 100 is up 0.45%, while the DAX is down 0.19% and the CAC 40 is down 0.04%.
The good corporate results of Nike Y fedex, coupled with a higher-than-expected rise in the Conference Board’s consumer confidence index, helped cheer markets on Wednesday. Not all were positive in the US as the tenth consecutive monthly drop in home sales was reported in November. The drop was 7.7% compared to the previous month, to 4.09 million, the lowest level since May 2020 and is 35% below where they were a year ago.
On Thursday in the US, the weekly jobless claims report, a new estimate of third-quarter GDP growth, and the Kansas Fed manufacturing index will be released.
The volume in the markets continues to reduce ahead of the year-end festivities throughout the world. This favors erratic price runs and the persistence of ranges.
In the premarket, Micron Technology shares are losing 3% after issuing a warning that demand continues to fall after the pandemic spike. Advanced Micro Devices falls 0.93% and NVIDIA 0.80%. Those of Alibaba rise more than 2% and ConocoPhillips 1.10%. Among the companies that will present results on Friday are Paychex, CarMax, and Hornbach.
In the foreign exchange market, the dollar it turned positive in the last hour, although with limited variations. The worst performer among the G10 is sterling, with GBP/USD dipping below 1.2050 and EUR/GBP topping 0.8800 for the first time in a month. UK economic data did not help the pound as the economy contracted more than previously expected in the third quarter, with figures revised from -0.2% to -0.3%.
China plans to reduce quarantine times for those entering the country from January. Turkey’s central bank kept the benchmark interest rate at 9% as expected. The president of UkraineVolodimir Zelensky, met with Joe Biden in Washington and spoke before the US Congress.
The sovereign bond yields they move in different directions. The 10-year Treasury bond yields 3.66%, while the 2-year yields 4.21%. German 10-year titles are at 2.34%, the highest in a month.
The prices oil prices escape the fall in the equity markets and the limited routes, showing increases of more than 1% for the second day in a row. The WTI barrel reached its highest in two weeks, approaching the $80.00 zone.
The metals They are pulling back after recently hitting weekly highs. The Prayed It remains above $1,800, although unable to overcome $1,820, while silver extended the decline reaching $23.65. Cryptocurrencies do not show large variations. Bitcoin is trading around $16,800, while Ethereum is trading at $1,215.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
