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Daily Market Update: US Markets Rally Ahead of Inflation Data

US Stock markets rallied in trading yesterday as investors digested the Federal Reserve’s latest meeting minutes and looked ahead to today’s inflation numbers. The dollar also pushed higher to hit levels not seen for two months as treasury yields also gained ground.

Oil prices took a dip as US inventories came in much higher than expected although concerns over the Middle East and Hurricane Milton limited drops while Gold also took another step down in line with the stronger greenback.

Its another relatively quiet day on the event calendar for the first two trading sessions with a strong focus on US data once New York opens with key inflation numbers due out.

Market	Change	Close
Dow	+1.03%	42,512
S&P	+0.71%	5,792
Nasdaq	+0.60%	18,291
USD	+0.38%	102.88
US Treasury – 2 Year	+4.0 bps	4.019%
US Treasury – 10 Year	+3.6 bps	4.071%
Oil – Brent	-0.8%	$76.58
Oil – WTI	-0.5%	$73.24
Gold	-0.5%	$2,607.93

Today’s Events (AEST):

US Session

11.30 pm – US – CPI Data

11.30 pm – US – Weekly Unemployment Claims Data

Last Updated: October 10, 2024

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