May 22nd Morning Report

Wednesday 22nd May 2024

US markets closed higher on Tuesday, sending the S&P 500 and Nasdaq to record levels, as investors assessed the latest comments from Federal Reserve officials for clues on the timing of a rate cut while quarterly earnings from Nvidia drew closer. The Dow Jones Industrial Average closed up 0.17%, while the S&P 500 and Nasdaq Composite were up 0.09% and 0.65% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-0.09%), the Dax 30 (-0.22%), CAC 40 (-0.66%) and the STOXX (-0.54%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.31%), HSI (-2.12%) and the Shanghai Composite (-0.42%).

The yield on the US 10 - year note was at 4.414%, while the 2 - year note was at 4.831%. Oil was up to $79.06 per barrel, down 0.93%. The gold price was at US$2426.70 per ounce, down 0.48%.