December 20th Morning Report

The US markets closed lower on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummeled US stocks. 

The Dow Jones Industrial Average closed up 0.47%, while the S&P 500 and Nasdaq Composite were up 0.41% and  0.48%.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-1.14%), the Dax 30 (-1.35%), CAC 40 (-1.22%) and the STOXX (-1.58%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.69%), HSI (-0.56%) and the Shanghai Composite (-0.36%).

The yield on the US 10 - year note was at 4.574%, while the 2 - year note was at 4.321%. Oil was up to $69.128 per barrel, down 1.03%. The gold price was at US$2572.10 per ounce, down 1.53%. 

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