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February 5th Morning Report

Monday 5th February 2024

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US markets ended sharply higher on Friday and the S&P registered an all-time closing high as strong earnings and a blowout January employment report boosted confidence in the economy, even while lowering the likelihood that the Federal Reserve will cut interest rates any time soon. The Dow Jones Industrial Average closed up 0.35%, while the S&P 500 and Nasdaq Composite were up 1.07% and 1.74% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (-0.09%), the Dax 30 (+0.35%), CAC 40 (+0.05%) and the STOXX (+0.34%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.41%), HSI (-0.21%) and the Shanghai Composite (-1.46%).

The yield on the US 10 - year note was at 4.024%, while the 2 - year note was at 4.372%. Oil was up to $72.41 per barrel, up 0.18%. The gold price was at US$2057.10 per ounce, up 0.17%. 

Morning Report 5 February 2024

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