US equities closed lower for a second straight session as investors stayed cautious on Middle East tensions and ahead of key earnings. Treasury yields rose across the curve and the dollar strengthened, while Canadian dollar traders were on alert after fresh US tariffs on Canadian imports. Gold eased further near its yearly lows.
📊 Equities
US equities closed lower for a second consecutive session as investors remained cautious amid ongoing geopolitical tensions in the Middle East and ahead of another round of key corporate earnings. The Dow led the declines, while the S&P and Nasdaq slipped only marginally. The Dow fell 0.59% to 51,839, the S&P 500 dropped 0.19% to 7,443, and the Nasdaq slid 0.05% to 25,508.
🛢️ Oil
Energy markets also reacted to the latest developments, although price action remained relatively contained given the scale of recent geopolitical headlines. Brent rose 0.98% to $88.96, while WTI gained 0.64% to $83.02.
🥇 Gold
Gold was unable to benefit from the increase in geopolitical risk, easing further and remaining near its lowest levels of the year. Gold fell 0.24% to $4,006.99.
💵 FX & Bonds
US Treasury yields moved higher across the curve after President Trump announced further US strikes against Iran, while the Houthis declared a naval blockade targeting Saudi shipping. The escalation supported demand for the US dollar. Meanwhile, Canadian dollar traders were left on alert after the US announced fresh 50% tariffs on selected Canadian imports late in the session. The USD Index rose 0.21% to 100.97, the 2-year Treasury yield rose 3.0 bps to 4.206%, and the 10-year yield rose 4.4 bps to 4.592%.
| Instrument | Change | Last |
|---|---|---|
| Dow | -0.59% | 51,839 |
| S&P 500 | -0.19% | 7,443 |
| Nasdaq | -0.05% | 25,508 |
| USD Index | +0.21% | 100.97 |
| Treasury 2Y | +3.0 bps | 4.206% |
| Treasury 10Y | +4.4 bps | 4.592% |
| Brent | +0.98% | $88.96 |
| WTI | +0.64% | $83.02 |
| Gold | -0.24% | $4,006.99 |
📌 Today’s Focus
Attention today is expected to remain firmly focused on developments in the Middle East, although traders will also be monitoring New Zealand inflation figures during the Asian session before UK labour market data provides the main focus in European trade.
Asian Session
🔹 New Zealand – CPI Data
European Session
🔹 UK – Claimant Count Data
🔹 UK – Unemployment Rate