August 1st Morning Report

US markets closed higher as the shares of smaller US companies are outpacing a rally in the broader equity market as they draw investors looking to scoop up cheaply valued stocks and those betting the group has already priced in an economic slowdown. The Dow Jones Industrial Average closed up 0.97%, while the S&P 500 and Nasdaq Composite were up 1.42% and 1.88% respectively. 

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+1.06%), the Dax 30 (+1.52%), CAC 40 (+1.72%) and the STOXX (+1.53%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.05%), HSI (-2.26%) and the Shanghai Composite (-0.89%).

The yield on the US 10 - year note was at 2.658%, while the 2 - year note was at 2.891%. Oil was up to $98.30 per barrel, down 0.32%. The gold price was at US$1782.70 per ounce, up 0.05%. 

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