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February 29th Morning Report

Thursday 29th February 2024

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US markets closed mxied on Wednesday ahead of an inflation reading later in the week that would influence expectations about when the US Federal Reserve will start cutting interest rates. The personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge due on Thursday, is likely to show prices rose on a monthly basis in January. The Dow Jones Industrial Average closed down 0.21%, while the S&P 500 and Nasdaq Composite were down 0.19% and down 0.49% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.76%), the Dax 30 (+0.25%), CAC 40 (+0.08%) and the STOXX (-0.04%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(-0.08%), HSI (-1.51%) and the Shanghai Composite (-1.91%).

The yield on the US 10 - year note was at 4.27%, while the 2 - year note was at 4.648%. Oil was up to $78.37 per barrel, down 0.63%. The gold price was at US$2041.60 per ounce, down 0.12%. 

Morning Report 29 February 2024


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