US Stocks pushed higher in trading yesterday, with the S&P notching up its 30th record high of the year despite a move back up in treasury yields as investors prepared from fresh updates from Fed officials and a raft of economic data updates in the coming days. The dollar retreated slightly from recent highs but Oil powered higher on fresh optimism that demand will increase into the second half of the year.
This week’s round of central bank rate calls kicks off today with the Reserve Bank of Australia due to deliver its latest update during the Asians session with the market firmly expecting no change to the current 4.35% rate. Traders are, however, expecting to see volatility around the event as once again indicators of a slowing economy compete with sticky inflation conditions.
| Market | Change | Close |
| Dow | +0.49% | 38,778 |
| S&P | +0.77% | 5,473 |
| Nasdaq | +0.95% | 17,857 |
| USD | -0.2% | 105.35 |
| US Treasury – 2 Year | +8.3 bps | 4.767% |
| US Treasury – 10 Year | +6.2 bps | 4.275% |
| Oil – Brent | +2.0% | $84.25 |
| Oil – WTI | +2.4% | $80.33 |
| Gold | -0.7% | $2,317 |
Today’s Events:
Asian Session
- 30 pm – Reserve Bank of Australia Rate Decision and Statement
- 30 pm – Reserve Bank of Australia Press Conference
US Session
- 30 pm – US Retail Sales Data
- 15 pm – US Industrial Production Data
- 00 am – FOMC Member Barkin Speaks
- 00 am – FOMC Member Kugler Speaks
