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May 2nd Morning Report

Thursday 2nd May 2024

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US markets closed higher on Wednesday after the Federal Reserve left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation its not assured. The Dow Jones Industrial Average closed up 0.23%, while the S&P 500 and Nasdaq Composite were down 0.34% and 0.33% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-0.28%), the Dax 30 (-1.03%), CAC 40 (-0.99%) and the STOXX (-1.20%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.34%), HSI (+0.09%) and the Shanghai Composite (-0.26%).

The yield on the US 10 - year note was at 4.641%, while the 2 - year note was at 4.968%. Oil was up to $79.13 per barrel, down 3.42%. The gold price was at US$2330.20 per ounce, up 1.19%. 

Morning Report 2 May 2024



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