August 3rd Morning Report

US markets closed little lower on Wednesday, with the S&P 500 Nasdaq Composite down for a second straight day as investors took profits on five months of gains a day after rating agency Fitch cut the US government's credit rating. The Dow Jones Industrial Average closed up 0.98%, while the S&P 500 and Nasdaq Composite were down 1.38% and up 2.17% respectively. 

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-1.36%), the Dax 30 (-1.36%), CAC 40 (-1.26%) and the STOXX (-1.61%). In Asia, the Hang Seng and Shanghai indices closed lower. The key Asian indices ended yesterday as follows: Nikkei 225(-2.30%), HSI (-2.47%) and the Shanghai Composite (-0.89%).

The yield on the US 10 - year note was at 4.09%, while the 2 - year note was at 4.885%. Oil was up to $79.76 per barrel, down 1.98%. The gold price was at US$1971.60 per ounce, down 0.36%. 

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