Global Markets:
- Asian Stock Markets : Nikkei down 1.48, Shanghai Composite up 0.10%, Hang Seng down 1.31%, ASX down 0.08%
- Commodities : Gold at $1894.65 (0.19%), Silver at $22.79 (0.31%), Brent Oil at $94.93 (0.47%), WTI Oil at $94.69 (+0.66%)
- Rates : US 10-year yield at 4.611, UK 10-year yield at 4.435, Germany 10-year yield at 2.860
News & Data:
- (USD) Core Durable Goods Orders m/m 0.4% vs 0.2% expected
- (USD) Durable Goods Orders m/m 0.2% vs -0.5% expected
Markets Update:
Asia-Pacific markets largely fell following some gains on Wednesday, as a rise in Treasury yields and oil prices cast a shadow on investor sentiment in Wall Street. The benchmark 10-year U.S. Treasury yield reached its highest levels since 2007, and U.S. crude futures surged by more than 3% to settle at $93.68 per barrel. Hong Kong’s Hang Seng index experienced a 1.3% slide after the suspension of shares of the troubled Chinese real estate firm Evergrande. Mainland Chinese stocks also saw slight declines, with the CSI 300 rising by only 0.22%.
Japan’s Nikkei 225 recorded a 1.4% drop, marking the first time in about a month that it fell below the 32,000 mark. The Topix index posted a smaller loss of 1.43%, ending at 2,345.51. Meanwhile, Australia’s S&P/ASX 200 extended its losses from Wednesday, losing 0.08%, reaching its lowest level since July 10.
In the United States, all three major indexes had mixed performances overnight. The Dow Jones Industrial Average reversed earlier gains and closed down by 0.2%, while the S&P 500 inched up by 0.02%, and the Nasdaq Composite added 0.22%. The global market landscape remains influenced by fluctuations in Treasury yields and oil prices, with investors closely monitoring these developments for potential economic implications.
Upcoming Events:
- 12:30 PM GMT – USD Final GDP q/q
- 12:30 PM GMT – USD Unemployment Claims
- 12:30 PM GMT – USD Final GDP Price Index q/q
- 2:00 PM GMT – USD Pending Home Sales m/m
