August 13th Morning Report

The US Market closed higher on Tuesday as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month. The Labour Department said the Consumer Price Index rose 0.2% on a monthly basis in July while annual inflation came in slightly below forecasts.

The Dow Jones Industrial Average up 1.08%, while the S&P 500 and Nasdaq Composite were up 1.12% and 1.38% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+0.207%), the Dax 30 (-0.23%), CAC 40 (+0.71%) and the STOXX (+0.08%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+2.15%), HSI (+0.25%) and the Shanghai Composite (+0.50%).

The yield on the US 10 - year note was at 4.293%, while the 2 - year note was at 3.735%. Oil was up to $63.12 per barrel, down 1.31%. The gold price was at US$3401.22 per ounce, down 0.10%. 

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