May 3rd Morning Report

US markets closed lower on Tuesday while a top White House economist said Federal Reserve interest rate hikes aimed at curbing inflation were having a negative impact on the banking sector, and warned Republicans against worsening the situation with their debt ceiling threats. The Dow Jones Industrial Average closed down 1.08%, while the S&P 500 and Nasdaq Composite were down 1.16% and down 1.08% respectively. 

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-1.24%), the Dax 30 (-1.12%), CAC 40 (-1.45%) and the STOXX (-1.48%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.12%), HSI (+0.20%) and the Shanghai Composite (+1.14%).

The yield on the US 10 - year note was at 3.433%, while the 2 - year note was at 3.992%. Oil was up to $71.61 per barrel, down 5.35%. The gold price was at US$2025.60 per ounce, up 1.68%. 

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

May 10th Morning Report
May 8th Morning Report
May 6th Morning Report
May 3rd Morning Report
May 2nd Morning Report
May 1st Morning Report
April 30th Morning Report
April 29th Morning Report
April 26th Morning Report
April 24th Morning Report