Sentiment stayed cautiously positive overnight on hopes of easing Middle East tensions after Trump cited “good talks” with Iran. Oil sold off sharply on the news, Treasury yields fell, and Wall Street was mixed as the Dow outperformed while the Nasdaq slipped. Gold gained on lower real yields.
📊 Equities
Wall Street was mixed, with the Dow outperforming while the S&P was flat and the Nasdaq slipped as investors rotated out of some tech names. The Dow rose 0.51% to 52,210, the S&P 500 edged up 0.02% to 7,413, and the Nasdaq fell 0.18% to 24,932.
🛢️ Oil
Investor sentiment stayed cautiously positive overnight as hopes of easing Middle East tensions grew, with Trump saying the US was having “good talks” with Iran, fuelling expectations of eventual progress toward increased oil supply through the Strait of Hormuz. The shift triggered a sharp sell-off in crude. Brent fell 9.26% to $87.82, while WTI dropped 8.19% to $82.00.
🥇 Gold
Gold benefited from the drop in real yields. Gold rose 0.56% to $4,075.28.
💵 FX & Bonds
The oil sell-off eased inflation concerns and pulled Treasury yields lower across the curve. The dollar posted modest gains despite lower yields. The USD Index rose 0.07% to 101.54, the 2-year Treasury yield fell 1.0 bps to 4.320%, and the 10-year yield fell 3.2 bps to 4.645%.
| Instrument | Change | Last |
|---|---|---|
| Dow | +0.51% | 52,210 |
| S&P 500 | +0.02% | 7,413 |
| Nasdaq | -0.18% | 24,932 |
| USD Index | +0.07% | 101.54 |
| Treasury 2Y | -1.0 bps | 4.320% |
| Treasury 10Y | -3.2 bps | 4.645% |
| Brent | -9.26% | $87.82 |
| WTI | -8.19% | $82.00 |
| Gold | +0.56% | $4,075.28 |
📌 Today’s Focus
With little major data overnight, geopolitics remained the key driver. Focus now turns to US Consumer Confidence and comments from RBA Governor Michele Bullock, though fresh Middle East headlines are likely to keep dictating direction.
🔹 Australia – RBA Governor Michele Bullock Speaks
🔹 US – CB Consumer Confidence Data