Texas markets

Global markets falter as Wall Street selloff intensifies

Summary of today’s market

  • The strengthening of the dollar continues.

  • US equity benchmark futures are down.

  • Brent extends losses today as China lockdowns spread to Beijing as the Russian-Kazakh Caspian Pipeline consortium resumed curative oil exports from April 22 after nearly 30 days stop.

  • Gold prices are retreating today.

Top daily news

Stocks are currently retreating with 10-year US Treasury yields down slightly after Wall Street’s solid decline on Friday. Apple shares fell 2.78% as Apple Cash replaced Discover with Visa for new virtual debit card accounts, Google shares fell 4.15% underperforming the market on Friday.

Forex News

currency pair Switch
EUR-USD -0.68%
GBP-USD -0.62%
USD-JPY -0.27%
AUD-USD -0.95%

The strengthening of the dollar is currently continuing. Live Dollar Index data shows the ICE US Dollar Index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.5% on Monday.

GBP/USD and EUR/USD both accelerated their slide on Friday despite Markit data showing that the expansion of private sector activity in the eurozone accelerated in April. The pound and the euro are currently lower than the dollar. AUD/USD accelerated its decline on Friday and USD/JPY continued to advance with the Aussie down against the greenback currently and the yen up.

Stock market news

clues Switch
Dow Jones index -0.61%
Nikkei Index -1.92%
Hang Seng Index -3.42%
Australian Stock Index 0.91%

U.S. equity benchmark index futures are currently down after U.S. equities ended sharply lower on Friday, led by healthcare stocks, as Markit reported that expanding activity in the US private sector had slowed in April. The three major US equity indices posted daily losses ranging from 2.5% to 2.8%, posting weekly declines of 1.9% to 3.8%.

European stock indices are currently retreating after finishing lower on Friday, led by mining stocks. French President Emmanuel Macron won a second term as French president in Sunday’s second round of elections. Asian indices are down today, with Hong Kong’s Hang Seng index leading losses as lockdowns also spread to Beijing.

Commodity market news

Merchandise Switch
Brent crude oil -2.3%
Crude WTI -3.5%

Brent extends losses today as China lockdowns spread to Beijing as the Russian-Kazakh Caspian Pipeline consortium resumed curative oil exports from April 22 after nearly 30 days stop. Prices fell on Friday and posted their third consecutive weekly decline. West Texas Intermediate (WTI) futures lost 1.7% and are currently down. Brent crude slid 1.6% to $106.65 a barrel on Friday.

Gold Market News

Metals Switch
Gold -0.75%

Gold prices are retreating today. Prices ended lower on Friday: spot gold fell 1.11% to $1,929.70 an ounce.


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