January 29th Morning Report

The US market closed higher on Wednesday driven by unrelenting optimism over artificial intelligence and expectations of strong Big Tech earnings as well as monetary policy easing.

The Dow Jones Industrial Average down 0.05%, while the S&P 500 and Nasdaq Composite were down 0.02% and up 0.31% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-0.52%), the Dax 30 (-0.29%), CAC 40 (-1.06%) and the STOXX (-1.02%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.05%), HSI (+2.58%) and the Shanghai Composite (+0.27%).

The yield on the US 10 - year note was at 4.249%, while the 2 - year note was at 3.585%. Oil was up to $63.24 per barrel, up 1.36%. The gold price was at US$5362.35 per ounce, up 4.72%. 

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