May 5th Morning Report

US markets closed lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of US lenders and hit shares of regional banks as well as JPMorgan, Wells Fargo & Co and other major financial players. The Dow Jones Industrial Average closed down 0.86%, while the S&P 500 and Nasdaq Composite were down 0.72% and down 0.49% respectively. 

Other key markets ended mixed. European stocks closed as follows: the FTSE100 (-1.10%), the Dax 30 (-0.51%), CAC 40 (-0.85%) and the STOXX (-0.54%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.12%), HSI (+1.27%) and the Shanghai Composite (+0.82%).

The yield on the US 10 - year note was at 3.377%, while the 2 - year note was at 3.788%. Oil was up to $68.58 per barrel, down 0.03%. The gold price was at US$2058.90 per ounce, up 1.08%. 

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