Daily summary: Wall Street erases initial declines 📈

6:48 PM 9 August 2024
  • Indices on Wall Street erased losses from the first part of the session. The indices opened today with over a 0.60% loss. However, at the time of publication, the declines on both the US500 and US100 were erased, and the indices are now gaining around 0.45-0.50%. The small-cap index is performing the worst, down 0.20%.

  • The dollar is slightly down at the end of the day. The USDIDX dollar index is down 0.05%. One of the stronger G10 currencies today is the Japanese yen (JPY), with the USDJPY pair down 0.35% to 146.6000. Nevertheless, movements in the currency market are limited today.

  • EURUSD remains stable at a level slightly above 1.0900. There are no significant changes in expectations regarding Fed rates today.

  • Yields on U.S. Treasuries are slightly rebounding. The 2-year bond yields have returned above 4.00%, and the 10-year bond yields are rising to 3.95%.

  • Inflation in Germany remains at 2.3% year-on-year, in line with expectations and the previous reading.

  • Employment in Canada is declining for the second consecutive month. However, it’s important to note that full-time employment increased significantly, while part-time employment saw a sharper decline. The unemployment rate remained at 6.4%.

  • Crude oil is rising for the third consecutive session, with WTI approaching the $77 per barrel level. Positive sentiment on the stock market, which indicates that a recession is not the baseline scenario, is helping. WTI is up nearly 1%.

  • Gold is clearly rebounding, marking another consecutive day of gains, and will likely end the week above $2,400 per ounce.

  • Cocoa is rebounding by over 5% at the end of the week, and is up over 20% for the entire week. The strong increases are related to weather conditions in West Africa and rolling trades that have increased demand among previous sellers.

  • Bitcoin is reducing earlier gains and is approaching the $60,000 level again, despite the recent resurgence in Bitcoin purchases through ETFs.

Share:
Back
Xtb logo

Join over 1 000 000 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

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
test_cookie cc 25 January 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 30 May 2024
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
__hstc cc 7 March 2023
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language