Morning Note: A Round-Up of Market News.
Market News
US equities drifted lower on Friday – S&P 500 (-0.3%); Nasdaq (-0.4%) – as data showed mixed indications on how American consumers are feeling about the economy. Applied Materials led losses in chipmakers on a disappointing outlook.
Volodymyr Zelenskiy and his European allies will seek solidarity with the US as Donald Trump hosts them for talks to set out terms for a possible Ukraine-Russia peace deal. Zelenskiy can end the conflict almost immediately if he wants to, Trump posted on Truth Social. Overall, there was some relief the Alaska summit concluded without escalating geopolitical tensions.
10-year Treasury yields settled this morning at 4.31%, while gold trades at $3,350 an ounce. Hong Kong will unveil a plan by year-end to develop an international gold trading hub, including support for physical delivery. Brent Crude slipped back to $66 a barrel.
In Asia this morning, stocks were firm: Nikkei 225 (+0.8%); Hang Seng (+0.2%). A gauge of Shanghai-listed stocks is set for its highest close in a decade as President Trump said he would hold off hiking China tariffs over the country’s purchases of Russian oil.
The FTSE 100 is currently 0.2% higher at 9,148, while Sterling trades at $1.3545 and €1.1575. Although this week is a quiet one for corporate news flow, there are results later in the week from BHP, Medtronic, Target, Walmart, Alibaba, and Intuit.
Source: Bloomberg
