December 19th Morning Report

The US markets closed lower on Wednesday, erasing earlier gains after the Federal Reserve cut interest rates by a quarter of a percentage point and the central bank's economic projections signaled a slower pace of cuts next year. 

The Dow Jones Industrial Average closed down 1.30%, while the S&P 500 and Nasdaq Composite were down 1.61% and  2.13%.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.05%), the Dax 30 (-0.02%), CAC 40 (+0.26%) and the STOXX (+0.30%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.72%), HSI (+0.83%) and the Shanghai Composite (+0.62%).

The yield on the US 10 - year note was at 4.50%, while the 2 - year note was at 4.359%. Oil was up to $70.48 per barrel, up 0.29%. The gold price was at US$2582.00 per ounce, down 1.50%. 

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