US Stock markets climbed to hit fresh record highs once again overnight as investors look ahead to key inflation data and the latest Fed meeting update. Treasury yields pushed higher again as traders continued to react to Friday’s jobs update and the dollar rose, aided by a sharp drop in the Euro after French President Emmanuel Macron called a snap election early in the trading day.
Oil prices jumped strongly as traders started to price in greater demand from the US as we move into the summer driving season and Gold regained some of Friday’s decline, its biggest one-day loss in over 3 and half years.
Today’s event calendar is relatively bare again with employment data the highlight of the day early in the London session, but traders are expecting more range bound conditions as they continue to eye up tomorrow’s crucial updates from the US.
| Market | Change | Close |
| Dow | +0.18% | 38,868 |
| S&P | +0.26% | 5,360 |
| Nasdaq | +0.35% | 17,192 |
| USD | +0.19% | 105.15 |
| US Treasury – 2 Year | +1.7 bps | 4.887% |
| US Treasury – 10 Year | +4.3 bps | 4.471% |
| Oil – Brent | +2.5% | $81.63 |
| Oil – WTI | +2.9% | $77.74 |
| Gold | +0.8% | $2,310 |
Today’s Events:
Asian Session
- 11.30 am – Australian NAB Business Confidence Data
European Session
- 4.00 pm – UK Claimant Count Change, Average Earnings and Unemployment Rate
US Session
- 3.01 am – US 10-year Bond Auction
