May 18th Morning Report

US markets closed higher on Wednesday after House Speaker McCarthy said he believed the United States will not default on its debt now that congressional leaders and President Joe Biden's administration are sitting down and negotiating. The Dow Jones Industrial Average closed up 1.24%, while the S&P 500 and Nasdaq Composite were up 1.19% and up 1.28% respectively. 

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.36%), the Dax 30 (+0.34%), CAC 40 (-0.09%) and the STOXX (+0.18%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.84%), HSI (-2.09%) and the Shanghai Composite (-0.21%).

The yield on the US 10 - year note was at 3.572%, while the 2 - year note was at 4.16%. Oil was up to $72.76 per barrel, up 2.68%. The gold price was at US$1986.20 per ounce, down 0.34%. 

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