Stocks

Today Markets: Let’s Catch Up

  • U.S. stock index futures are down between 0.2% and 0.3%, while European benchmark futures point to a slightly lower market open across the continent.
  • Today’s macroeconomic calendar is nearly empty, except for UK CPI inflation data, so market attention will shift toward comments from Federal Reserve and ECB officials.
  • The U.S. dollar is experiencing another weak session, with the EURUSD pair breaking above 1.133, gaining over 0.4%. Interestingly, 10-year U.S. Treasury yields have climbed back above 4.5%, yet this hasn’t strengthened the dollar.
  • Bitcoin is up over 1%, approaching its all-time highs, trading around $108,000, supported by the dollar’s decline.
  • Ethereum is gaining 3.3%, and Uniswap is up more than 7%.
  • According to the API reportU.S. crude oil inventories unexpectedly rose by nearly 2.5 million barrels, versus a forecasted decline of 1.8 million, following a prior sharp increase of nearly 4.29 million.
  • Still, oil prices are up more than 1% today, ahead of the EIA data release at 4:30 PM (CET).
  • Natural gas is pulling back 1.5%, correcting part of yesterday’s 10% rally.
  • In the precious metals market, sentiment is slightly weaker: Gold is up 0.3%, trading above $3,300 per ounce, while platinum is down nearly 1.5% following yesterday’s rebound.
  • Among agricultural commoditiesvolatility is limited, but gains dominate.

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