| Index | Last | Change | % Change |
|---|---|---|---|
|
trading higher
|
40,008.39 | +242.75 | 0.61%Positive |
|
trading higher
Nasdaq Composite Index
.IXIC |
17,192.60 | +4.99 | 0.03%Positive |
|
trading higher
S&P 500 Index
.SPX |
5,455.21 | +20.78 | 0.38%Positive |
Fixed Income
In line with expectations that U.S. monetary policy will soon be eased, the benchmark 10-year Treasury yield fell to 3.8371%, and the two-year Treasury yield was steady at 3.9621%.
Equities
Last week’s global market sell-off was widely attributed to fears of a U.S. recession, which left traders betting on Fed’s soon rate cut. Stocks were also affected by traders quitting the yen carry trade, in response to the yen’s getting stronger following a surprise BOJ rate hike.
Stocks jumped on Tuesday after U.S. producer price data pointed to inflation cooling.
Nikkei wobbled after Japan’s prime minister, Fumio Kishida, said he would step down next month, Asian shares rose overall as markets recovered from the recent rout.
Forex
Pressured by bets of imminent U.S. rate cuts, the dollar index was on the backfoot at 102.61 .
Sluggish dollar helped euro climb to day’s high of $1.10475 , highest level in more than eight months.
Japanese yen wobbled after Japan’s prime minister, Fumio Kishida, announced step down.
Commodities
Brent crude futures down 1% at $79.9
U.S. West Texas Intermediate crude fell 1.5% to $77.18.
Buffeted by speculation about the size of the Fed’s first rate cut, gold traded 0.7% lower at $2,447.2 an ounce.
for more news, visit reuters.com
