Stocks mixed after Wall Street retreat - 8.1.2025

The Dollar strengthening has halted today. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended 0.5% higher on Tuesday.

Both EUR/USD and GBP/USD  reversed their advancing yesterday while data showed an uptick in euro zone inflation for December. Both euro and Pound are lower against the dollar currently. USD/JPY accelerated its climbing while AUD/USD reversed its advancing on Tuesday with the yen little changed against the Greenback currently and Australian dollar lower still.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes up at 4.689%. Stock indexes ended down on Tuesday as three main stock benchmarks recorded daily losses in the range from -1.9% to -0.4% after the Census Bureau data indicated Economic activity in the services sector expanded for the sixth consecutive month in December.

European stock indexes are lower currently after closing up on Tuesday with energy shares leading gains. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses after US administration decision to add technology giant Tencent Holdings and Tesla’s battery maker Contemporary Amperex Technology to a blacklist of firms with ties to Chinese military.

Brent is extending gains currently. Prices rebounded about 1% yesterday amid expectations of limited supply from Russia and Iran because of Western sanctions. The US oil benchmark West Texas Intermediate (WTI) added 0.94% and is higher currently. Brent rose 0.98% to $77.05 a barrel on Tuesday.