May 29th Morning Report

Monday 29th May 2023

US markets closed higher on Friday as talks on raising the US debt ceiling progressed, while chip stocks surged for a second straight day on optimism about artificial intelligence. The Dow Jones Industrial Average closed up 1.00%, while the S&P 500 and Nasdaq Composite were up 1.30% and 2.19% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.74%), the Dax 30 (+1.20%), CAC 40 (+1.24%) and the STOXX (+1.59%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.37%), HSI (-1.93%) and the Shanghai Composite (+0.35%).

The yield on the US 10 - year note was at 3.81%, while the 2 - year note was at 4.568%. Oil was up to $72.87 per barrel, up 1.45%. The gold price was at US$1964.90 per ounce, up 0.13%.

Morning Report 29 May 2023

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