Daily Market Snapshot: Trading Week Starts Quietly – 9 July 2024

It was a relatively quiet start to the trading week yesterday with most products remaining at familiar levels. With little on the data calendar, political considerations were front of mind for traders and the hung parliament result for France did put some pressure on the Euro, but it still remains near recent highs.

The S&P and Nasdaq again ground higher to record fresh highs with the Dow edging lower, but most investors will be keeping their powder dry until we hear from the Fed Chair later today and have the latest CPI update on Thursday. 

It is another fairly quiet day on the macroeconomic event calendar, with only minor releases scheduled for the first couple of sessions, however testimonies from both the Fed Chair and Treasury Secretary in the New York session in front of congress could see some moves in US markets later on.

Market Change Close 
Dow -0.08% 39,344 
S&P +0.10% 5,572 
Nasdaq +0.28% 18,403 
USD +0.04% 104.99 
US Treasury – 2 Year +1.9 bps 4.618% 
US Treasury – 10 Year -0.9 bps 4.269% 
Oil – Brent -0.9% $85.75 
Oil – WTI -1.0% $82.33 
Gold -1.4% $2,358 

Today’s Events: 

Asian Session 

  • 11.30 am – Australia – NAB Business Confidence Data 

US Session 

  • 12.00 am – US – Fed Chair Jerome Powell Testifies 
  • 12.00 am – US – Treasury Secretary Janet Yellen Testifies
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