US Stock market indices surged back in trading yesterday as investors piled back into their favourite tech stocks ahead of tomorrow’s key inflation data. Both treasury yields and the dollar have quieter trading days but remained near recent highs whereas commodity prices took a hit.
Oil prices crashed as talk of a possible ceasefire between Israel and Hezbollah hit the market, Brent and WTI both closing 4.63% lower on the day at $77.18 and $73.57 and Gold toppled over 1%.
Central banks are in focus for traders today and two major events bookend the day with the RBNZ’s rate decision coming early in the Asian trading before a long wait until nearly the close of the New York session and the FOMC meeting minutes are released.
| Market | Change | Close |
| Dow | +0.30% | 42,080 |
| S&P | +0.97% | 5,751 |
| Nasdaq | +1.45% | 18,182 |
| USD | +0.06% | 102.54 |
| US Treasury – 2 Year | -4 bps | 3.965% |
| US Treasury – 10 Year | +0.9 bps | 4.028% |
| Oil – Brent | -4.63% | $77.18 |
| Oil – WTI | -4.63% | $73.57 |
| Gold | -1.1% | $2,614.45 |
Today’s Events (AEST):
Asian Session
- 12:00 pm – New Zealand – Reserve Bank of New Zealand Rate Decision
US Session
- 1:30 am – US – Oil Inventory Data
- 5:00 am – US – FOMC Meeting Minutes
