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Global Markets Surge on China Stimulus, Gold Hits Record High

Global markets rallied again in trading yesterday as China announcement a huge stimulus package. US Stocks took advantage with Chinese sensitive tech stocks leading the way, Nvidia notably jumping 4%. The Dow and the S&P again notched up record highs.

US treasury yields slipped, and the dollar took a big hit, now trading close to annual lows again on the index. Oil and Gold powered higher with Gold again printing a fresh record at $2,664.25.

Traders are expecting more moves in the market today as investors continue to digest the latest updates and evaluate how long the measures out of China will boost confidence. The calendar is slightly quieter today although Australian CPI data and US numbers later will draw investor attention.

Market	Change	Close
Dow	+0.20%	42,208
S&P	+0.25%	5,732
Nasdaq	+0.56%	18,074
USD	-0.60%	100.35
US Treasury – 2 Year	-3.6 bps	3.540%
US Treasury – 10 Year	-0.1 bps	3.733%
Oil – Brent	+1.7%	$75.17
Oil – WTI	+1.7%	$71.56
Gold	+1.08%	$2,656.92

Today’s Events (AEST):

Asian Session

11.30 am – Australia – CPI Data

US Session

12.00 am – US – New Home Sales Data
12.30 am- US – Crude Oil Inventories Data

Last Updated: September 25, 2024

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