May 30th Morning Report

Thursday 30th May 2024

US markets closed mixed on Wednesday amid further gains in Treasury yields and concern over the timing and scale of possible interest rate cuts from the Federal Reserve. The Dow Jones Industrial Average closed down 1.06%, while the S&P 500 and Nasdaq Composite were down 0.58% and 0.74% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-0.86%), the Dax 30 (-1.10%), CAC 40 (-1.52%) and the STOXX (-1.33%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.77%), HSI (-1.83%) and the Shanghai Composite (-0.46%).

The yield on the US 10 - year note was at 4.616%, while the 2 - year note was at 4.975%. Oil was up to $79.25 per barrel, down 0.25%. The gold price was at US$2337.30 per ounce, down 0.81%.