June 24th Morning Report

The US market rallied on Monday as prospects of the US Federal Reserve cutting interest rates as early as July offset uncertainty about escalating turmoil in the Middle East.

The Dow Jones Industrial Average up 0.89%, while the S&P 500 and Nasdaq Composite were up 0.96% and 0.94% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.19%), the Dax 30 (-0.35%), CAC 40 (-0.69%) and the STOXX (-0.22%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.13%), HSI (+0.67%) and the Shanghai Composite (+0.65%).

The yield on the US 10 - year note was at 4.346%, while the 2 - year note was at 3.861%. Oil was up to $67.38 per barrel, down 8.75%. The gold price was at US$3384.25 per ounce, down 0.04%. 

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