It was a mixed day on Wall Street for indices to kick off the week yesterday with the Nasdaq outperforming its contemporaries. There were strong moves after PMI data indicated further slowing in the US economy with treasuries rallying, yields falling to 2-week lows and the dollar hit 3-week lows as the moves hit the currency market.
Oil was one of the outstanding movers on the day with both Brent and WTI taking big hits as the full impact of the weekend’s OPEC meeting hit the market, with contracts in both down over $3 in post-settlement trading.
It is a relatively quiet day in terms of the event calendar today with just Swiss CPI and US JOLTS Job Openings set to move markets, however given yesterday’s moves, traders are expecting plenty of volatility in the sessions ahead.
| Market | Change | Close |
| Dow | -0.30% | 38,571 |
| S&P | +0.11% | 5,283 |
| Nasdaq | +0.56% | 16,828 |
| USD | -0.4% | 104.13 |
| US Treasury – 2 Year | -8 bps | 4.818% |
| US Treasury – 10 Year | -11 bps | 4.402% |
| Oil – Brent | -3.4% | $78.36 |
| Oil – WTI | -3.6% | $74.22 |
| Gold | +0.9% | $2,347 |
Today’s Events:
European Session
- 4.30 pm – Switzerland – CPI Data
US Session
- 12.00 am – US – JOLTS Job Openings Data
