December 29th Morning Report

US markets closed lower on Wednesday, giving up modest initial gains, on growing concern about a recession in 2023 and surging COVID-91 cases in China, the world's importer. The Dow Jones Industrial Average closed down 0.74%, while the S&P 500 and Nasdaq Composite were down 0.90% and 1.19% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.32%), the Dax 30 (-0.50), CAC 40 (-0.61%) and the STOXX (-0.63%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-0.41%), HSI (+1.56%) and the Shanghai Composite (-0.26%).

The yield on the US 10 - year note was at 3.886%, while the 2 - year note was at 4.355%. Oil was up to $78.79 per barrel, down 0.93%. The gold price was at US$1813.20 per ounce, down 0.54%. 

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