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May 22nd Morning Report

Monday 22nd May 2023

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US markets closed lower on Friday as negotiations to raise the US debt ceiling were put on hold, jarring market participants as they headed into the weekend and the United States moved closer to the deadline to avoid default. The Dow Jones Industrial Average closed down 0.33%, while the S&P 500 and Nasdaq Composite were down 0.14% and  0.24% respectively. 

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.19%), the Dax 30 (+0.69%), CAC 40 (+0.61%) and the STOXX (+0.64%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.77%), HSI (-1.40%) and the Shanghai Composite (-0.42%).

The yield on the US 10 - year note was at 3.682%, while the 2 - year note was at 4.279%. Oil was up to $71.67 per barrel, up 0.17%. The gold price was at US$1979.90 per ounce, down 0.09%. 

Morning Report 22 May 2023

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