US stocks pushed higher again yesterday, with the S&P 500 and Nasdaq reaching fresh record highs as Treasury yields eased and investors turned their attention to the upcoming third-quarter earnings season. The Dow also moved higher, while yields drifted lower across the curve and the dollar gave back some recent gains. Commodity markets were relatively calm, with oil edging higher as traders balanced supply risks against rising export levels and gold rebounding from recent support as the softer dollar and lower US yields provided relief. China remains closed for a bank holiday, while US crude inventory data, a 10-year Treasury auction and FOMC Meeting Minutes will be in focus later in the session.
📊 Equities
US stocks pushed higher again yesterday, with both the S&P 500 and Nasdaq hitting fresh record highs. Treasury yields eased and investors started to turn their attention toward the upcoming third-quarter earnings season. The Dow gained 0.49%, the S&P 500 rose 0.58% and the Nasdaq advanced 0.45%.
🛢️ Oil
Oil prices edged higher as traders continued to balance ongoing supply risks against rising export levels. Brent crude gained 0.26%, while WTI crude rose 0.40%.
🥇 Gold
Gold rebounded 0.58% from recent support to $4,163.45 as the softer dollar and lower US yields provided some welcome relief.
💵 FX & Bonds
Treasury yields drifted lower across the curve, while the dollar gave back some recent gains. The US dollar index fell 0.32%, with the 2-year and 10-year Treasury yields down 1.4 bps and 2.4 bps respectively.
| Market | Change | Close |
|---|---|---|
| Dow | +0.49% | 51,521 |
| S&P 500 | +0.58% | 7,818 |
| Nasdaq | +0.45% | 27,599 |
| USD | -0.32% | 101.85 |
| US Treasury – 2 Year | -1.4 bps | 4.798% |
| US Treasury – 10 Year | -2.4 bps | 5.279% |
| Oil – Brent | +0.26% | $100.58 |
| Oil – WTI | +0.40% | $89.80 |
| Gold | +0.58% | $4,163.45 |
📌 Today’s Focus
It is another relatively quiet start to the trading day, with China still out for the Bank Holiday. Activity should pick up once New York comes in, with US crude inventory data and a 10-year Treasury auction due before FOMC Meeting Minutes round out the session. With Federal Reserve expectations having shifted sharply over recent sessions, traders will be watching closely for clues on how divided policymakers are over the next move.
🔹 Asian Session – All Day – China – Bank Holiday
🔹 US Session – 1.30 am – US – Crude Oil Inventory Data
🔹 US Session – 4.01 am – US – 10-year Bond Auction
🔹 US Session – 5.00 am – US – FOMC Meeting Minutes