It was another steady day for markets again on Friday, stocks in Europe took another step higher to close at record highs and US stocks remained elevated. However, data prints are starting to concern investors, University of Michigan numbers on Friday pointed to potentially creating the perfect storm that no one wants as Consumer Sentiment fell whilst Inflation Expectations increased and Chinese numbers on Saturday failed to impress. We noted that Gold has pushed significantly higher over the last few sessions as some traders look for haven investments.
Markets are likely to be a bit sluggish on the open today as those data updates weigh, despite fresh highs in global stocks. It’s a relatively quiet event calendar to start the week, although things are set to heat up in the next couple of days, with the major focus being the US CPI numbers on Wednesday.
| Market | Daily Change | Close |
| Dow | +0.32% | 39,512 |
| S&P | +0.17% | 5,222 |
| Nasdaq | -0.03% | 16,340 |
| USD | +0.07% | 105.29 |
| US Treasury – 2 Year | +6 | 4.868% |
| US Treasury – 10 Year | +6 | 4.504% |
| Oil – Brent | -0.31% | $82.53 |
| Oil – WTI | -0.33% | $78.00 |
| Gold | +1.0% | $2,369 |
Today’s Events AEST:
Asian Session
- 1.00 pm – NZ Inflation Expectations
European Session
- 2.45 am – Swiss National Bank Chairman Jordan Speaks
US Session
- 11pm – FOMC members Jefferson and Mester Speak
