16th May 2022 Morning Report

US markets closed higher on Friday as signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession. The Dow Jones Industrial Average closed up 1.47%, while the S&P 500 and Nasdaq Composite were up 2.39% and up 3.82% respectively. 

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+2.55%), the Dax 30 (+2.10%), CAC 40 (+2.52%) and the STOXX (+2.49%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+2.64%), HSI (+2.68%) and the Shanghai Composite (+0.96%).

The yield on the US 10 - year note was at 2.928%, while the 2 - year note was at 2.58%. Oil was up to $111.5 per barrel, up 3.82%. The gold price was at US$1811.09per ounce, down 0.57%. 

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