US stocks finished mixed yesterday as technology shares came under pressure in thinner trading conditions during the Columbus Day holiday. The Dow gained, while the S&P 500 and Nasdaq slipped. US Treasury markets were closed, with the latest available yields at 4.787% for the 2-year and 5.238% for the 10-year, while the dollar index rose to fresh annual highs. Oil prices rallied as Middle East tensions escalated following further Houthi attacks on Saudi Arabia and the closure of Riyadh airport. Gold fell as the stronger dollar remained the key driver, and today’s calendar is relatively quiet ahead of the RBA Meeting Minutes and US Existing Home Sales data.
📊 Equities
US stocks finished mixed yesterday as technology shares came under pressure in thinner trading conditions due to the Columbus Day holiday. The Dow managed to push higher, gaining 0.38%, while the S&P 500 edged down 0.05% and the Nasdaq dropped 0.44% as investors continued to assess the impact of rising geopolitical tensions.
🛢️ Oil
Oil prices pushed higher again as tensions in the Middle East escalated following further Houthi attacks on Saudi Arabia, which forced the closure of Riyadh airport. Brent crude gained 1.41% to close at $106.20, while WTI jumped 2.06% to $93.74. Traders remain concerned that any further escalation could threaten regional supply routes and push prices even higher in the coming sessions.
🥇 Gold
Gold struggled against the stronger dollar, dropping 0.54% to close at $4,171.10. Despite increased geopolitical uncertainty, the precious metal continues to take its direction primarily from moves in the dollar and US yields rather than traditional safe-haven demand.
💵 FX & Bonds
US Treasury markets were closed for the Columbus Day holiday. The latest available yields stood at 4.787% for the 2-year and 5.238% for the 10-year. The dollar continued its strong run, with the dollar index gaining another 0.33% to close at 102.57 and hitting fresh annual highs against major currencies as geopolitical uncertainty and expectations of higher US interest rates continued to support the greenback.
| Market | Daily Change | Close |
|---|---|---|
| Dow | +0.38% | 51,850 |
| S&P 500 | -0.05% | 7,807 |
| Nasdaq | -0.44% | 27,245 |
| USD | +0.33% | 102.57 |
| US Treasury – 2 Year | +2.9 bps | 4.787% |
| US Treasury – 10 Year | +1.1 bps | 5.238% |
| Oil – Brent | +1.41% | $106.20 |
| Oil – WTI | +2.06% | $93.74 |
| Gold | -0.54% | $4,171.10 |
📌 Today’s Focus (AEST)
It is another relatively quiet day on the economic calendar, with the RBA Monetary Policy Meeting Minutes the main event during the Asian session, followed by US Existing Home Sales data later in the day. Traders are nevertheless expecting another lively session as markets continue to digest developments in the Middle East, with any fresh headlines likely to drive further volatility across currencies, commodities and equities.
🔹 Asian Session – 11.30 am – Australia – RBA Monetary Policy Meeting Minutes
🔹 US Session – 1.00 am – US – Existing Home Sales Data