On Tuesday, October 22nd, U.S. markets closed mixed as investors focused on rising Treasury yields and anticipated upcoming earnings reports to gauge the health of American companies.
The Nasdaq eked out a modest gain, while the Dow and S&P 500 saw slight declines. Treasury yields, particularly the 10-year note, reached 4.222%, their highest since July, as markets reassessed the Federal Reserve’s policy path.
According to the economic data, the composite manufacturing index for the U.S. Fifth District was reported at -14 in October, an improvement from the previous month’s reading of -21.
Most S&P 500 sectors ended lower, with industrials, materials, and utilities suffering the biggest losses and consumer staples and communication services gaining.
The Dow Jones Industrial Average dipped 0.02% to close at 42,924.89, the S&P 500 slipped 0.05% to 5,851.20, while the Nasdaq Composite edged up 0.18% to finish at 18,573.13.
Asia Markets Today
- On Wednesday, Japan’s Nikkei 225 closed lower by 0.85% at 38,079.50, led by losses in the Shipbuilding, Power, and Banking sectors.
- Australia’s S&P/ASX 200 gained 0.13% and ended the day at 8,216.00, led by gains in the Consumer Staples, Gold, and Consumer Discretionary sectors.
- India’s Nifty 50 traded lower by 0.20% at 24,422.30, while Nifty 500 was up 0.06% at 22,829.80.
- China’s Shanghai Composite rose 0.52% to close at 3,302.80, and the Shenzhen CSI 300 gained 0.39%, finishing the day at 3,973.21.
- Hong Kong’s Hang Seng gained 1.27% and closed the session at 20,760.15.
Eurozone at 05.45 AM ET
- The European STOXX 50 index was down 0.23%.
- Germany’s DAX declined 0.01%.
- France’s CAC fell 0.36%.
- U.K.’s FTSE 100 traded lower by 0.20%.
Commodities at 05.45 AM ET
- Crude Oil WTI was trading lower by 1.13% at $70.92/bbl, and Brent was down 1.08% at $75.22/bbl.
- Oil prices fell after U.S. crude inventories rose more than expected, though futures remain up this week due to the ongoing Middle East conflict.
- Natural Gas fell 1000% at $2.288.
- Gold was trading higher by 0.19% at $2,765.15, Silver declined 0.74% to $34.782, and Copper slipped 0.86% to $4.3432.
- Gold prices surged to a record high, driven by investor demand amid Middle East tensions, despite a strong dollar and rising U.S. Treasury yields.
U.S. Futures at 05.45 AM ET
Dow futures were down 0.40%, S&P 500 futures fell 0.18%, and Nasdaq 100 Futures slid 0.27%.
Forex at 05.45 AM ET
- The U.S. dollar index rose 0.25% to 104.33, the USD/JPY rose 1.10% to 152.72, and the USD/AUD gained 0.37% to 1.5022.
- The U.S. dollar surged to near three-month highs, driven by rising Treasury yields, diminished expectations for Fed rate cuts, and increased confidence in a Trump election victory, boosting safe-haven demand.
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