July 15th Morning Report

Monday 15th July 2024

US markets closed higher on Friday, with the S&P 500 and Dow Jones Industrials Average hitting intraday record highs, on bets that the US Federal Reserve will cut interest rates in September, while big banks fell after reporting mixed results.

The Dow Jones Industrial Average closed up 0.62%, while the S&P 500 and Nasdaq Composite were up 0.55% and 0.63% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+0.36%), the Dax 30 (+1.15%), CAC 40 (+1.27%) and the STOXX (+1.34%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-2.45%), HSI (+2.59%) and the Shanghai Composite (+0.031%).

The yield on the US 10 - year note was at 4.186%, while the 2 - year note was at 4.456%. Oil was up to $82.18 per barrel, down 0.04%. The gold price was at US$2416.00 per ounce, down 0.19%.