Daily Market Update
The S&P recorded a fresh record high yesterday as the three major US indices continue to take turns hitting historical levels on a daily basis. Once again, the move was spurred as investors look ahead to tomorrow’s key Nvidia earnings report with optimism high that the poster child of the AI revolution will once again deliver the goods.
Despite the headlines, the markets were relatively subdued across the trading day yesterday as updates from Fed officials again failed to move the dial too much ahead of today’s FOMC Meeting Minutes and most products trod water for most of the day.
The macroeconomic calendar does look a touch more inspiring today with traders in the APAC session looking closely at Kiwi markets today with the latest RBNZ rate announcement due and UK markets set to move on the CPI data release before the aforementioned FOMC Meeting Minutes are released late in the US Day.
| Market | Daily Change | Close |
| Dow | +0.17% | 39,872 |
| S&P | +0.25% | 5,321 |
| Nasdaq | +0.22% | 16,832 |
| USD | Flat | 104.62 |
| US Treasury – 2 Year | -0.5bps | 4.833% |
| US Treasury – 10 Year | -2bps | 4.416% |
| Oil – Brent | -1.41% | $82.53 |
| Oil – WTI | -0.68% | $79.26 |
| Gold | -0.2% | $2,420 |
Today’s Events AEST:
Asian Session
- 12.00 pm – RBNZ Official Cash Rate, Rate Statement and Monetary Policy Statement
- 1.00 pm – RBNZ Press Conference
European Session
- 4.00 pm – UK CPI Data
- 4.00 pm – UK PPI Data
US Session
- 12.00 am – US Existing Homes Sales
- 4.00 am – FOMC Meeting Minutes
