MARKET WRAP: Trade Hopes Drove Markets Higher


 
Investors are factoring in a strong possibility of a trade deal between the US and China and this pushed the markets higher. 



Stocks

  • The S&P 500 Index jumped 0.32 percent on the prospects of no US government shutdown as of 15:20 London time.
  • The Nasdaq 100 soared 0.36 percent and the Dow Jones Industrial Average also added to its yearly gains by 0.46 percent.
  • The Stoxx Europe 600 Index moved higher by 0.76 percent.
  • Germany’s DAX Index jumped 0.60% percent.
  • The MSCI Emerging Market Index moved higher on a volume of 146K and gained 0.86%.
Currencies
  • The Dollar Spot Index gained more strength today due to the decent US CPI reading and it rose by 0.30%.
  • The Euro broke its critical level of 1.13 and dropped by 0.22 percent against the dollar to $1.1293.
  • The British pound recovered some of its losses as Theresa May battled in the parliament for another day. It jumped up by 0.06%
  • The Japanese yen is still out of luck and dropped by 0.29 percent to 110.36 per dollar.
Bonds
  • The yield on 10-year Treasuries jumped by two basis points to 2.70 percent.
  • Germany’s 10-year dropped nearly a basis point to 0.13 percent.
  • Britain’s 10-year yield continued to move higher and jumped by one basis point to 1.195.
Commodities
  • West Texas Intermediate crude soar again today and jumped by 1.21 percent to $53.74.
  • Gold moved higher as the chances of Fed increasing the interest rates aren’t changed because of the CPI number. The price popped by 0.19%.



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