Daily summary: Indices gain despite strong dollar 💰

7:03 PM 8 December 2023
  • Wall Street stock indices are performing well on the last day of the week, gaining about 0.30-0.40%. The S&P 500 is trading above 4600 points, just below this year's highs of 4630 points.

  • Investors in Europe were even more upbeat, with Germany's DAX reaching new all-time highs and Poland's WIG20 once again attacking the 2300-point zone.

  • In the FX market, the Canadian dollar and the U.S. dollar are currently performing the best. The largest declines are seen in the New Zealand dollar and the Swiss franc.

  • The University of Michigan's consumer sentiment report showed a significant increase in sentiment with a simultaneous drop in inflation expectations. The data turned out to be exceptionally positive, exceeding analysts' expectations.

  • The NFP report from the U.S. job market again diverged from ADP, showing a larger-than-expected employment increase of 199,000. Forecasts anticipated a rise to 183,000 from 150,000 in October.

  • The NFP report indicates the strength of the U.S. job market. Moreover, the unemployment rate fell to 3.7%, and there was also a 0.4% month-over-month wage increase.

  • Gold prices (GOLD) are falling during today's session by nearly 1.5%, dropping below the 2000 dollar per ounce barrier due to stronger-than-expected non-farm employment data in the U.S.

  • In the cryptocurrency market, we are observing another wave of increases. This time, capital has clearly started to flow from Bitcoin to smaller projects. Smaller projects are approaching a key level (Total3) of 450 billion dollars in market capitalization, thus recording a 50% increase this year. Today, investors' attention is mainly drawn to Cardano, which gains over 18%.

Xtb logo

Join over 935 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.

Losses can exceed deposits