Friday 16th February 2024 |
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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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