US stocks extended their gains overnight as investor sentiment continued to improve following the reopening of the Strait of Hormuz, with technology shares leading the advance. The Nasdaq climbed almost 2%, the S&P 500 posted solid gains, and the Dow Jones edged modestly higher to close above 51,500. Treasury yields retreated after Wednesday’s sharp post-FOMC move, while the US Dollar Index rose 0.72% to 100.81. Energy markets remained under pressure as shipping traffic normalized, and gold fell 1.16% on a stronger dollar.
📊 Equities
US stocks extended their gains overnight, with technology shares leading the advance as investor sentiment continued to improve following the reopening of the Strait of Hormuz. The Nasdaq outperformed, climbing almost 2%, while the broader S&P 500 also posted solid gains. The Dow Jones edged modestly higher to close above 51,500.
🛢️ Oil
Energy markets remained under pressure as shipping traffic through the Strait of Hormuz continued to normalize.
🥇 Gold
Gold came under pressure, falling 1.16% as the stronger US dollar weighed on demand for the precious metal.
💵 FX & Bonds
Treasury yields retreated after the sharp post-FOMC move seen on Wednesday, with both the 2-year and 10-year yields moving lower. The US dollar continued to strengthen against the major currencies, with the Dollar Index rising 0.72% to 100.81.
📌 Today’s Focus
Today’s focus turns to retail sales data out of the UK and Canada.
🔹 UK – Retail Sales Data
🔹 Canada – Retail Sales Data