January 14th Morning Report

The US market closed higher on Tuesday, pressured by financials after JPMorgan cautioned that a planned cap on credit-card rates would weigh on consumers, while an expected increase in inflation kept bets alive for interest rate cuts this year.

The Dow Jones Industrial Average down 0.78%, while the S&P 500 and Nasdaq Composite were down 0.31% and 0.24% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-0.03%), the Dax 30 (+0.06%), CAC 40 (-0.14%) and the STOXX (+0.22%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+3.10%), HSI (+0.90%) and the Shanghai Composite (-0.64%).

The yield on the US 10 - year note was at 4.173%, while the 2 - year note was at 3.526%. Oil was up to $61.12 per barrel, up 3.03%. The gold price was at US$4603.49 per ounce, down 0.24%. 

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