US tech stocks slipped in trading yesterday to kick off the week in the red, with market darling Nvidia dropping over 6% to pull both the S&P and Nasdaq lower. The Dow, however, closed nicely up again to notch up a new 1-month high after gaining 0.66% on the day.
The dollar slipped against most of the majors with traders remaining very wary of intervention threats in the Yen, whilst treasury yields were little changed again ahead of this week’s US inflation data.
It is another relatively quiet day on the macroeconomic calendar today with the highlight the first major inflation update of the week in Canada later in the New York session. Expectation is for a 0.3% month-on-month increase in the headline figure.
| Market | Change | Close |
| Dow | +0.66% | 39,411 |
| S&P | -0.31% | 5,447 |
| Nasdaq | -1.09% | 17,499 |
| USD | -0.4% | 105.46 |
| US Treasury – 2 Year | -0.9 bps | 4.721% |
| US Treasury – 10 Year | -1.9 bps | 4.231% |
| Oil – Brent | +0.9% | $86.01 |
| Oil – WTI | +1.1% | $81.63 |
| Gold | +0.5% | $2,332 |
Today’s Events:
Asian Session
- 30 am – Australia – Westpac Consumer Sentiment Data
European Session
- 00 pm – US – FOMC member Bowman Speaks
US Session
- 30 pm – Canada – CPI Data
- 00 am – US – CB Consumer Confidence Data
- 00 am – US – Richmond Manufacturing Index Data
