MARKET WRAP: Sharp Drop In Oil Price, S&P Record Another Record High

*BOE left the powder dry *All eyes on the US NFP *S&P made another record high while European markets traded mostly lower


  • The S&P 500 Index continued its record higher and gained 0.23 percent as of 15:18 in London. The Fed signaled no change in their stance yesterday and investors are staying mostly on the sideline ahead of the US NFP data
  • The Stoxx Europe 600 Index declined 0.43 percent despite better than expected manufacturing PMI number while the FTSE dropped 0.09 percent.
  • The MSCI EM Index moved higher by 0.42 percent.
  • The Dollar Spot Index recovered its losses and moved up by 0.10 percent.
  • The Euro remained below the 1.13 despite improvement in French and German PMI numbers and dropped 0.52 percent to $1.1180.
  • The Japanese yen lost 0.37 percent to 111.57 per dollar.
  • The British pound moved lower after the BOE dovis remarks and lost its value by 0.44 percent to $1.3024.
  • The yield on 10-year Treasuries moved up by two basis points to 2.52 percent.
  • Britain’s 10-year yield gained by one basis point to 1.169percent.
  • Crude oil suffered heavy losses today and declined 2.80 percent to $61.80 a barrel.
  • Gold broke its support of 1270 as investors weigh Fed’s next move. The price dropped by 1.02 percent to 1268