September 20th Morning Report

Friday 20th September 2024

US markets ended record high on Thursday, the day after the Federal Reserve cut interest rates by 50 basis points and indicated more rate cuts were on the horizon.

The Dow Jones Industrial Average closed up 1.26%, while the S&P 500 and Nasdaq Composite were up 1.70% and 2.51%.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+0.91%), the Dax 30 (+1.55%), CAC 40 (+2.29%) and the STOXX (+2.24%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+2.13%), HSI (+2.00%) and the Shanghai Composite (+0.49%).

The yield on the US 10 - year note was at 3.719%, while the 2 - year note was at 3.588%. Oil was up to $72.07 per barrel, up 1.64%. The gold price was at US$2611.70 per ounce, up 0.50%.