US equities were mixed as investors positioned cautiously ahead of today’s Fed decision, with tech under pressure while the Dow gained on broader strength and Middle East optimism. Treasury yields eased further, the dollar softened, and oil pared its two-week-low decline after reports of an Iranian strike on a US base in Jordan. Gold slipped to range lows.
📊 Equities
US equities were mixed as investors positioned cautiously ahead of today’s Fed rate decision and another busy earnings round. Tech stayed under pressure on chip weakness, while strength elsewhere and Middle East optimism helped the Dow post a solid gain. The Dow rose 1.03% to 52,747, the S&P 500 gained 0.21% to 7,428, and the Nasdaq fell 0.22% to 24,876.
🛢️ Oil
Oil extended its decline to fresh two-week lows as optimism built around a US-Iran peace deal and traders unwound the geopolitical risk premium. Although we have seen much of that move corrected this morning after news that the Iranians had targeted a US base in Jordan hit the newswires. Brent fell 4.50% to $84.38, while WTI dropped 4.06% to $79.26.
🥇 Gold
Gold slipped lower to range lows. Gold fell 1.18% to $4,027.12.
💵 FX & Bonds
Treasury yields eased further as markets pared rate-hike odds to around 31%, softening the dollar against most majors. The USD Index fell 0.14% to 101.39, the 2-year Treasury yield fell 4.2 bps to 4.280%, and the 10-year yield fell 4.2 bps to 4.606%.
| Instrument | Change | Last |
|---|---|---|
| Dow | +1.03% | 52,747 |
| S&P 500 | +0.21% | 7,428 |
| Nasdaq | -0.22% | 24,876 |
| USD Index | -0.14% | 101.39 |
| Treasury 2Y | -4.2 bps | 4.280% |
| Treasury 10Y | -4.2 bps | 4.606% |
| Brent | -4.50% | $84.38 |
| WTI | -4.06% | $79.26 |
| Gold | -1.18% | $4,027.12 |
📌 Today’s Focus
Attention now shifts to the Fed’s policy announcement and press conference, with monetary policy set to dominate sentiment over the next 24 hours.
🔹 Australia – CPI Data
🔹 US – Crude Oil Inventory Data
🔹 US – Federal Reserve Bank Interest Rate Decision
🔹 US – Federal Reserve Bank Press Conference