7th July 2022 Morning Report

Thursday 7th July 2022

US markets closed higher on Wednesday with a deteriorating inflation situation and concern about lost faith in the Federal Reserve's power to make it better prompted US central bank officials to rally around an outsized interest rate increase and a firm restatement of their intent to get prices under control. The Dow Jones Industrial Average closed up 0.23%, while the S&P 500 and Nasdaq Composite were up 0.36% and 0.35% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+1.17%), the Dax 30 (+1.56%), CAC 40 (+2.03%) and the STOXX (+1.85%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-1.20%), HSI (-1.22%) and the Shanghai Composite (-1.43%).

The yield on the US 10 - year note was at 2.934%, while the 2 - year note was at 2.996%. Oil was up to $99.67 per barrel, down 3.00%. The gold price was at US$1739.42 per ounce, down 1.44%.

Morning Report 7 July 2022

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