November 8th Morning Report

Friday 8th November 2024

US markets closed higher on Thursday after the Federal Reserve announced a cut of 25 basis points (bps) in interest rates, extending a sharp rally sparked by Donald Trump's return as US president.

The Dow Jones Industrial Average closed up 0.09%, while the S&P 500 and Nasdaq Composite were up 0.78% and 1.53%.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.32%), the Dax 30 (+1.70%), CAC 40 (+0.76%) and the STOXX (+1.07%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.25%), HSI (+2.02%) and the Shanghai Composite (+2.57%).

The yield on the US 10 - year note was at 4.318%, while the 2 - year note was at 4.197%. Oil was up to $72.79 per barrel, up 0.77%. The gold price was at US$2726.50 per ounce, up 0.94%.