September 17th Morning Report

The US market closed lower on Tuesday as caution set in ahead of an anticipated interest rate cut from the Federal Reserve.

Investor are largely still pricing in a 25 basis-point cut from the US central bank at the conclusion of its two-day meeting on Wednesday, to offset the deterioration in the US labor market, evidenced by numerous recent economic indicators.

The Dow Jones Industrial Average down 0.13%, while the S&P 500 and Nasdaq Composite were down 0.27% and 0.07% respectively.

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-0.88%), the Dax 30 (-1.77%), CAC 40 (-1.00%) and the STOXX (-1.25%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.30%), HSI (-0.03%) and the Shanghai Composite (+0.035%).

The yield on the US 10 - year note was at 4.03%, while the 2 - year note was at 3.51%. Oil was up to $64.55 per barrel, up 1.97%. The gold price was at US$3727.55 per ounce, up 0.23%. 

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