US stocks rose in holiday-thinned trading as investors returned to the AI trade. The dollar strengthened, with the euro at a fresh annual low and USD/JPY above 159.00. Oil gained while gold fell. US Treasury markets were closed. UK GDP, US weekly data and Middle East headlines are today’s focus.
📊 Equities
US stocks pushed higher in holiday-thinned trading yesterday as investors piled back into the AI trade, driving solid gains across all three major indices. The Nasdaq led the charge as tech stocks bounced strongly, while the broader market also enjoyed a positive session. The Dow gained 0.49% to 52,486, the S&P 500 rose 1.31% to 7,619, and the Nasdaq advanced 1.60% to 25,466.
🛢️ Oil
Oil prices gained ground as traders continued to weigh the prospects of a Middle East peace deal. Conflicting positions from the parties involved kept uncertainty high and traders alert. Brent gained 1.24% to $92.62, while WTI rose 0.57% to $86.53.
🥇 Gold
Gold took another hit as the stronger dollar weighed heavily on the precious metal. Prices fell 1.12% to $3,985.62.
💵 FX & Bonds
US Treasury markets were closed for the holiday, with the table showing the 2-year yield at 4.738% and the 10-year yield at 4.990%, and no daily changes reported. The dollar powered higher against the majors, with USD up 0.66% to 102.90. The euro hit a fresh annual low, while USD/JPY broke cleanly through 159.00 for the first time since early September, adding momentum to the greenback’s recent rally.
| Market | Change | Close |
|---|---|---|
| Dow | +0.49% | 52,486 |
| S&P 500 | +1.31% | 7,619 |
| Nasdaq | +1.60% | 25,466 |
| USD | +0.66% | 102.90 |
| US Treasury – 2 Year | – | 4.738% |
| US Treasury – 10 Year | – | 4.990% |
| Oil – Brent | +1.24% | $92.62 |
| Oil – WTI | +0.57% | $86.53 |
| Gold | -1.12% | $3,985.62 |
📌 Today’s Focus
It is a relatively quiet day on the economic calendar, with UK GDP and US weekly unemployment claims the main releases. Weekly crude oil inventory data are also scheduled. With the dollar pushing higher, the euro testing fresh lows and USD/JPY breaking above 159.00, FX markets remain firmly in focus. Geopolitical developments are likely to remain front and centre, with traders expecting another lively session as markets react to Middle East headlines. These developments could again prove the biggest driver of sentiment, particularly for oil and gold, as traders assess whether peace negotiations are making genuine progress or heading for another setback.
Today’s Events AEDT:
🔹 European Session – 6.00 pm – UK – GDP Data
🔹 US Session – 12.30 am – US – Weekly Unemployment Data
🔹 US Session – 4.00 am – US – Weekly Crude Oil Inventory Data
