December 19th Morning Report

US markets closed lower on Friday and suffered straight week of losses as fears continued to mount that the Federal Reserve's campaign to arrest inflation would tilt the economy into a recession. The Dow Jones Industrial Average closed down 0.85%, while the S&P 500 and Nasdaq Composite were down 1.11% and 0.97% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-1.27%), the Dax 30 (-0.67), CAC 40 (-1.08%) and the STOXX (-0.83%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-1.87%), HSI (+0.42%) and the Shanghai Composite (-0.025%).

The yield on the US 10 - year note was at 3.488%, while the 2 - year note was at 4.182%. Oil was down to $74.50 per barrel, down 2.12%. The gold price was at US$1803.00 per ounce, up 0.85%. 

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