August 12th Morning Report

US markets closed lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The Dow Jones Industrial Average closed up 0.08%, while the S&P 500 and Nasdaq Composite were down 0.07% and 0.58% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.55%), the Dax 30 (-0.05%), CAC 40 (+0.33%) and the STOXX (+0.21%). In Asia, the Hang Seng and Shanghai indices closed lower. The key Asian indices ended yesterday as follows: Nikkei 225(-0.65%), HSI (+2.40%) and the Shanghai Composite (+1.60%).

The yield on the US 10 - year note was at 2.889%, while the 2 - year note was at 3.227%. Oil was up to $93.99 per barrel, up 2.24%. The gold price was at US$1805.50 per ounce, down 0.45%. 

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