US equities delivered another mixed performance overnight as investors continued to rotate out of the technology sector amid ongoing valuation concerns. The Dow Jones edged 0.14% higher to 51,920, the S&P 500 finished virtually unchanged at 7,357, and the Nasdaq declined 0.46% to 25,358. Reports of a vessel struck by an unidentified projectile in the Strait of Hormuz reignited geopolitical concerns, lifting oil prices, while gold rebounded from recent annual lows, climbing 0.64% to $4,026.23 per ounce.
📊 Equities
US equities delivered another mixed performance overnight as investors continued to rotate out of the technology sector amid ongoing valuation concerns. The Dow Jones edged 0.14% higher to close at 51,920, while the S&P 500 finished virtually unchanged at 7,357, and the Nasdaq declined 0.46% to 25,358 as weakness in large-cap technology stocks persisted.
🛢️ Oil
Commodity markets were firmer after reports that a vessel had been struck by an unidentified projectile in the Strait of Hormuz reignited geopolitical concerns surrounding global oil supply. Brent crude rose 1.27% to $74.69 a barrel and WTI gained 2.25% to $71.92.
🥇 Gold
Gold attracted renewed buying interest, climbing 0.64% to $4,026.23 per ounce after rebounding from recent annual lows.
💵 FX & Bonds
The US dollar eased 0.18% to 101.43 following the release of US inflation data, which broadly met market expectations and reinforced the view that the Federal Reserve is likely to hike rates sooner rather than later. Treasury yields also softened, with the 2-year yield falling 2.3 basis points to 4.123%, while the benchmark 10-year yield held steady at 4.392%.
📌 Today’s Focus
Today’s focus turns to Japan’s Core CPI data, which will provide further insight into the Bank of Japan’s policy outlook.
🔹 Japan – Core CPI