February 16th Morning Report

US markets ended higher on Thursday as retail sales data declined more than expected, feeding hopes the Federal Reserve will soon start cutting interest rates in coming months. A Commerce Department report showed US retail sales dropped 0.8% in January, weighed by declines at auto dealerships and gasoline service stations. The Dow Jones Industrial Average closed up 0.82%, while the S&P 500 and Nasdaq Composite were up 0.26% and up 0.57% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.38%), the Dax 30 (+0.60%), CAC 40 (+0.86%) and the STOXX (+0.72%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+1.21%), HSI (+0.41%) and the Shanghai Composite (+1.28%).

The yield on the US 10 - year note was at 4.238%, while the 2 - year note was at 4.565%. Oil was up to $78.18 per barrel, up 2.01%. The gold price was at US$2016.60 per ounce, up 0.61%. 

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