US markets rallied strongly overnight as the prospect of a diplomatic resolution in the Middle East sparked a broad risk-on move across financial markets. Equities surged, led by technology stocks, while safe-haven assets and the US dollar came under pressure. The Nasdaq jumped 2.54% to 25,809, the S&P 500 gained 1.75% to 7,394, and the Dow Jones rose 1.86% to 50,848. The US Dollar Index fell back below 100 to 99.69, Treasury yields dropped sharply, oil retreated, and gold surged 3.37% to $4,210.60 per ounce.
📊 Equities
US equities surged overnight as fresh developments in the Middle East raised the prospect of a diplomatic resolution, sparking a broad risk-on move. Technology stocks led the rally. The Nasdaq jumped 2.54% to 25,809, the S&P 500 gained 1.75% to 7,394, and the Dow Jones rose 1.86% to 50,848.
🛢️ Oil
Crude oil prices moved sharply lower as fears of supply disruptions in the Middle East eased, reversing a portion of the recent conflict-driven rally.
🥇 Gold
Gold surged 3.37% to $4,210.60 per ounce, supported by a weaker dollar and improved market sentiment.
💵 FX & Bonds
The US Dollar Index fell back below the 100 level to 99.69 as traders reduced defensive positions. Treasury yields dropped sharply, with the 2-year falling 8.1 basis points to 4.062% and the 10-year declining 9.1 basis points to 4.461%.
📌 Today’s Focus
In other news, the ECB raised interest rates and SpaceX launched its highly anticipated IPO, drawing significant market attention. Today’s focus turns to UK GDP data, along with the University of Michigan Consumer Sentiment and Inflation Expectations readings.
🔹 UK GDP Data
🔹 US University of Michigan Consumer Sentiment
🔹 US University of Michigan Inflation Expectations