October 18th Morning Report

US markets rallied on Monday after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which boosted optimism about the corporate earnings season. The Dow Jones Industrial Average closed up 2.05%, while the S&P 500 and Nasdaq Composite were up 2.82% and 3.62% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.90%), the Dax 30 (+1.70%), CAC 40 (+1.83%) and the STOXX (+1.77%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-1.16%), HSI (+0.15%) and the Shanghai Composite (+0.42%).

The yield on the US 10 - year note was at 4.021%, while the 2 - year note was at 4.458%. Oil was down to $85.35 per barrel, down 0.30%. The gold price was at US$1653.50 per ounce, up 0.28%. 

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