October 3rd Morning Report

US markets closed lower on Monday with utilities falling sharply, while the Nasdaq was barely changed as investors weighed the likelihood the Federal Reserve will need to hold interest rates higher for longer. The Dow Jones Industrial Average closed down 0.38%, while the S&P 500 and Nasdaq Composite were down 0.22% and up 0.38% respectively. 

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-1.28%), the Dax 30 (-0.91%), CAC 40 (-0.94%) and the STOXX (-0.89%). In Asia, the Hang Seng and Shanghai indices closed lower. The key Asian indices ended yesterday as follows: Nikkei 225 (-0.31%), HSI (+2.51%) and the Shanghai Composite (+0.10%).

The yield on the US 10 - year note was at 4.687%, while the 2 - year note was at 5.11%. Oil was down to $88.62 per barrel, up 2.39%. The gold price was at US$1846.00 per ounce, down 1.08%. 

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