May 6th Morning Report

US markets closed higher on Friday as a softer-than-expected employment report bolstered the case for rate cuts from the Federal Reserve while also providing evidence of US economic resilience. The Dow Jones Industrial Average closed up 1.18%, while the S&P 500 and Nasdaq Composite were up 1.26% and 1.99% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.59%), the Dax 30 (+0.59%), CAC 40 (+0.54%) and the STOXX (+0.63%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.10%), HSI (+1.48%) and the Shanghai Composite (-0.26%).

The yield on the US 10 - year note was at 4.497%, while the 2 - year note was at 4.806%. Oil was up to $77.99 per barrel, up 0.15%. The gold price was at US$2310.10 per ounce, up 0.06%. 

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