Daily Market Update
US Stocks finished the week with a flourish on Friday after a largely on expectation PCE data print and month end flows combined to push the Dow to its best day this year. The tech heavy S&P and Nasdaq didn’t fare as well as Dell reported below market forecasts, but overall investors breathed a sigh of relief that we didn’t see another higher inflation stat in the US.
The dollar and US treasury yields retreated, and Oil dropped ahead of this weekend’s OPEC Meetings.
Its set to be a relatively quiet trading day ahead for the first trading day of the month with little on the event calendar in the first two sessions of the day, however we have the first of several key data updates from the US once New York opens in the form of the Final Manufacturing PMI and ISM Manufacturing PMI numbers.
| Market | Change | Close |
| Dow | +1.5% | 38,686 |
| S&P | +0.8% | 5,277 |
| Nasdaq | -0.02% | 16,735 |
| USD | -0.39% | 104.36 |
| US Treasury – 2 Year | -1.7 bps | 4.912% |
| US Treasury – 10 Year | -4.6 bps | 4.508% |
| Oil – Brent | -0.3% | $81.62 |
| Oil – WTI | -1.2% | $76.99 |
| Gold | -0.7% | $2,326 |
Today’s Events:
Asian Session
- Bank Holiday in New Zealand
US Session
- 45 pm – US Final Manufacturing PMI Data
- 00 am – US ISM Manufacturing PMI Data
- 00 am – US ISM Manufacturing Prices Data
