May 20th Morning Report

The US market closed lower on Tuesday with the Nasdaq leading declines, after the benchmark 10-year Treasury yield climbed to its highest level in more than a year on mounting inflation concerns as oil prices stayed elevated and investors were anxious about the lack of a peace agreement between the US and Iran. 

The Dow Jones Industrial Average up 0.32%, while the S&P 500 and Nasdaq Composite were down 0.07% and 0.51% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.07%), the Dax 30 (+0.38%), CAC 40 (-0.07%) and the STOXX (+0.04%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-0.44%), HSI (+0.48%) and the Shanghai Composite (+0.92%).

The yield on the US 10 - year note was at 4.667%, while the 2 - year note was at 4.12%. Oil was up to $104.01 per barrel, down 0.35%. The gold price was at US$4485.40 per ounce, down 1.59%. 

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