November 18th Morning Report

Monday 18th November 2024

US markets closed lower on Friday, with the S&P 500 and Nasdaq notching their biggest one-day losses in two weeks, on concerns about slower interest rate cuts and as investors reacted to cabinet picks by US President-elect Donald Trump.

The Dow Jones Industrial Average closed down 0.70%, while the S&P 500 and Nasdaq Composite were down 1.32% and down 2.24%.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.09%), the Dax 30 (-0.27%), CAC 40 (-0.58%) and the STOXX (-0.80%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.28%), HSI (-0.05%) and the Shanghai Composite (-1.45%).

The yield on the US 10 - year note was at 4.445%, while the 2 - year note was at 4.307%. Oil was up to $65.20 per barrel, down 2.55%. The gold price was at US$2561.90 per ounce, down 0.21%.