US Stocks rallied strongly in trading yesterday as a rare strong jobs number increased hopes of a soft landing for the economy with the Nasdaq notably gaining nearly 3%. Treasury yields pushed higher again on the back of the day and the dollar gained slightly on the day on the index, although it was mixed against the majors.
Oil prices popped again as the US data eased demand concerns and Middle East tensions remained high. Gold was another big mover on the day, gaining 2% having languished near recent lows for the last couple of days.
The macroeconomic calendar rounds out what has been a quiet week with another relatively threadbare day, the day if bookended by CPI and PPI data in the Asian session and key Canadian employment numbers as we approach the weekend.
| Market | Change | Close |
| Dow | +1.76% | 39,446 |
| S&P | +2.30% | 5,319 |
| Nasdaq | +2.87% | 16,660 |
| USD | +0.14% | 103.24 |
| US Treasury – 2 Year | +4.3 bps | 4.044% |
| US Treasury – 10 Year | +3.4 bps | 4.001% |
| Oil – Brent | +1.06% | $79.16 |
| Oil – WTI | +1.28% | $76.19 |
| Gold | +2.00% | $2,427 |
Today’s Events (AEST):
Asian Session
- 30 am – China – CPI Data
- 30 am – China – PPI Data
US Session
- 30 pm – Canada – Employment Change Data
- 30 pm – Canada – Unemployment Rate Data
