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Daily Market Snapshot: Iran-Israel Conflict Drives Market Volatility

US Stocks markets fell in trading yesterday after Iran launched missiles at Israel in retaliation for recent attacks on Hezbollah. Investors are concerned that the situation could continue to escalate in the Middle East and haven trades pushed higher across the board.

Oil prices jumped nearly 3% on the back of the action and Gold surged back higher towards recent record levels, while the dollar gained against most of the majors, up 0.45% to 101.20.

Traders will continue to monitor the situation in the Middle East over the course of today’s trading sessions but will also keep a close eye on the economic calendar with more US jobs data ahead tonight.

Market	Change	Close
Dow	-0.41%	42,157
S&P	-0.93%	5,708
Nasdaq	-1.53%	17,910
USD	+0.45%	101.20
US Treasury – 2 Year	-3.4 bps	3.617%
US Treasury – 10 Year	-6.3 bps	3.739%
Oil – Brent	+2.6%	$73.56
Oil – WTI	+2.4%	$69.83
Gold	+1.06%	$2,662.82

Today’s Events (AEST):

European Session

All Day – OPEC – JMMC Meetings

US Session

10.15pm – US – ADP Non-Farm Employment Change Data

12.30am – US – Oil Inventories Data

Last Updated: October 2, 2024

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