US stocks slipped yesterday but remained close to record levels as investors digested the latest Federal Reserve meeting minutes and monitored elevated Treasury yields. The Dow led the declines, while the S&P 500 and Nasdaq posted more modest losses. Treasury yields were mixed, with the two-year yield lower and the benchmark ten-year edging higher, while the dollar rallied against major currencies and put the euro back under pressure near recent annual lows. Oil saw another choppy session as traders weighed Middle East developments against the IEA’s agreement to accelerate the release of oil stocks; gold hit a two-month low after breaking support before recovering some losses. The economic calendar remains light, with Bank of England Governor Andrew Bailey’s comments, US weekly unemployment claims and the US thirty-year bond auction in focus.
📊 Equities
US stocks slipped yesterday but remained close to record levels as investors digested the latest Federal Reserve meeting minutes and monitored elevated Treasury yields. The Dow led the declines, falling 0.66%, while the S&P 500 and Nasdaq each lost 0.22%.
🛢️ Oil
Oil endured another choppy session as traders weighed developments in the Middle East against the IEA’s agreement to accelerate the release of oil stocks. Brent finished 0.36% higher, while WTI lost 0.56%.
🥇 Gold
Gold broke through key support to hit a two-month low of $4,110.65 before recovering some of its losses later in the session. It finished down 1.27%.
💵 FX & Bonds
Treasury yields were mixed again, with the two-year yield drifting lower while the benchmark ten-year edged higher. The dollar rallied against major currencies, putting the euro back under pressure as it challenged recent annual lows. The US dollar index rose 0.42%.
| Market | Change | Close |
|---|---|---|
| Dow | -0.66% | 51,179 |
| S&P 500 | -0.22% | 7,801 |
| Nasdaq | -0.22% | 27,538 |
| USD | +0.42% | 102.27 |
| US Treasury – 2 Year | -2.9 bps | 4.768% |
| US Treasury – 10 Year | +0.5 bps | 5.284% |
| Oil – Brent | +0.36% | $100.94 |
| Oil – WTI | -0.56% | $88.96 |
| Gold | -1.27% | $4,110.65 |
📌 Today’s Focus
The macroeconomic calendar remains relatively light today, with Bank of England Governor Andrew Bailey’s comments, US weekly unemployment claims and the US thirty-year bond auction in focus. Fresh geopolitical headlines could again set the tone for trading.
🔹 European Session – 11.15 pm – UK – Bank of England Governor Andrew Bailey Speaks
🔹 US Session – 11.30 pm – US – Weekly Unemployment Claims Data
🔹 US Session – 4.01 am – US – 30-Year Bond Auction