Markets kicked into action yesterday after investors assessed potential rate cuts from the Federal Reserve next week as US PPI data came in slightly above expectations. US Stock indices charged higher, and Gold hit another all-time high. Tech stocks again led the way with the Nasdaq adding another 1% by the close of trading.
Treasuries remained trading near recent lows and the dollar dropped over half a percentage point on the index. Oil prices pushed up again as supply disruptions in the Gulf of Mexico continued to weigh on investor concerns.
The macroeconomic calendar is relatively quiet in the last three sessions of the week, but traders are anticipating more volatility with some products trading at sensitive levels.
| Market | Change | Close |
| Dow | +0.58% | 41,096 |
| S&P | +0.75% | 5,595 |
| Nasdaq | +1.00% | 17,596 |
| USD | -0.52% | 101.25 |
| US Treasury – 2 Year | +0.4 bps | 3.649% |
| US Treasury – 10 Year | +2.6 bps | 3.681% |
| Oil – Brent | +2.21% | $72.17 |
| Oil – WTI | +2.72% | $69.14 |
| Gold | +1.85% | $2,558.51 |
Today’s Events (AEST):
US Session
- 12.00 am – US – Preliminary University of Michigan Consumer Sentiment Data
- 12.00 am – US – Preliminary University of Michigan Inflation Expectations Data
