January 20th Morning Report

Friday 20th January 2023

US markets closed lower on Thursday after data pointing to a tight labor market fueled concerns th Federal Reserve will maintain its aggressive path of rate hikes and result in a policy error that could tilt the economy into a recession. The Dow Jones Industrial Average closed down 0.27%, while the S&P 500 and Nasdaq Composite were down 0.19% and 0.27% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-1.07%), the Dax 30 (-1.72), CAC 40 (-1.86%) and the STOXX (-1.92%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-1.44%), HSI (-0.12%) and the Shanghai Composite (+0.49%).

The yield on the US 10 - year note was at 3.399%, while the 2 - year note was at 4.116%. Oil was up to $80.54 per barrel, up 1.33%. The gold price was at US$1932.50 per ounce, up 1.34%.

Morning Report 20 January 2023

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