US Stock markets continued to climb in trading yesterday as the major indexes notched up their third straight day of gains to record the strongest 3-days of trading since November. Confidence that the Fed will be cutting rates in months ahead has helped fuel the rally and Fed speakers again confirmed that view again during trading yesterday.
Reactions in other markets were more muted with US treasury yields trading close to Friday’s close and the dollar edging lower against most of the majors. Traders are carefully monitoring developments in the Middle East with Israel rejecting a claim from Hamas last night that they had agreed to a ceasefire.
Australian markets are in focus today for Asian markets with the RBA set to deliver its latest rate call and traders are expecting to see volatility around the event with recent sticky inflation data raising the potential for rate hikes in months ahead.
| Market | Daily Change | Close |
| Dow | +1.45% | 38,851 |
| S&P | +1.03% | 5,180 |
| Nasdaq | +1.19% | 16,347 |
| USD | -0.1% | 105.06 |
| US Treasury – 2 Year | +2 | 4.826% |
| US Treasury – 10 Year | -1.1 | 4.489% |
| Oil – Brent | +0.66% | $83.51 |
| Oil – WTI | +0.73% | $78.68 |
| Gold | +1.08% | $2,333 |
Today’s Events AEST:
Asian Session
| 2.30pm | Reserve Bank of Australia Rate Decision |
| 3.30pm | Reserve Bank of Australia Press Conference |
European Session
| 6.30pm | UK Construction PMI Data Release |
US Session
| 12.00am | Canadian Ivey PMI Data Release |
