May 5th Morning Report

The US market closed lower on Monday, with the S&P 500 retreating from record highs, after a South Korean ship was hit by an explosion in the Strait of Hormuz and Tehran demonstrated its grip on Middle East oil, dampening optimism about strong first-quarter earnings reports.

The Dow Jones Industrial Average down 1.13%, while the S&P 500 and Nasdaq Composite were down 0.41% and up 0.19% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-0.14%), the Dax 30 (-1.24%), CAC 40 (-1.71%) and the STOXX (-2.00%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.38%), HSI (+1.24%) and the Shanghai Composite (+0.11%).

The yield on the US 10 - year note was at 4.432%, while the 2 - year note was at 3.946%. Oil was up to $104.92 per barrel, up 2.92%. The gold price was at US$4529.60 per ounce, down 2.47%. 

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