US Stocks took another hit on trading in Friday’s session after a global cyber outage increased investor concerns. The Dow dropped nearly 1% on the day with the S&P and Nasdaq not far behind, whilst yields and the dollar pushed higher as Fed officials confirmed that the focus of the FOMC is still to see inflation at 2%.
Oil prices took a sharp hit as ceasefire hopes increased in Gaza and Gold dipped again in line with the stronger dollar.
The event calendar is relatively quiet for the first trading day of the week with the main focus for investors probably coming out of China when the PBOC confirms its 1-year and 5-year interest rate calls with both are expected to remain steady at 3.45% and 3.95% respectively.
However, traders are preparing for more volatility in the sessions ahead as US political considerations dominate trading today after President Joe Biden dropped out of the race for the Presidency overnight.
| Market | Change | Close |
| Dow | -0.93% | 40,287 |
| S&P | -0.71% | 5,505 |
| Nasdaq | -0.81% | 17,727 |
| USD | +0.24% | 104.39 |
| US Treasury – 2 Year | +4.8 bps | 4.509% |
| US Treasury – 10 Year | +5.1 bps | 4.239% |
| Oil – Brent | -2.9% | $82.63 |
| Oil – WTI | -3.3% | $80.13 |
| Gold | -1.9% | $2,399 |
Today’s Events:
Asian Session
- 11.15 am – China – 1-year and 5-year Loan Prime Rate Decisions
