US stock markets pushed higher yesterday as investors positioned for key earnings updates from Tesla and Meta. The Nasdaq rose 1.05%, leading gains across the major indices as technology shares returned to favour. Treasury yields moved modestly higher, while the dollar was little changed. Oil markets were quieter after earlier volatility, with Brent rising and WTI slipping as hopes for a potential US-Iran peace agreement grew. Gold also gained 0.39%, while New Zealand inflation data and US weekly unemployment claims are the main scheduled events today.
📊 Equities
US stock markets pushed higher in trading yesterday as investors positioned themselves ahead of key earnings updates from Tesla and Meta. The Nasdaq led the gains, jumping 1.05% as technology stocks returned to favour, while the Dow and S&P 500 also recorded solid advances. Both Tesla and Meta reported after the closing bell, with Tesla beating market estimates and Meta confirming plans to increase spending on AI, which will keep the technology sector firmly in focus in the coming sessions.
🛢️ Oil
Oil markets enjoyed a rare quieter session after the extreme volatility seen earlier in the week. Brent edged higher while WTI slipped as investors continued to monitor developments in the Middle East, with hopes growing that a potential peace agreement between the US and Iran could ease tensions and reduce the geopolitical risk premium currently built into crude prices. However, the situation remains highly uncertain, and traders will be wary of further sharp moves in either direction as fresh headlines hit the newswires.
🥇 Gold
Gold managed to push slightly higher in trading yesterday, recovering further ground from recent support levels despite the modest increase in US Treasury yields. The precious metal rose 0.39% to $4,140.38 and continues to trade within recent ranges, with traders keeping a close eye on movements in the dollar and US yields alongside geopolitical developments for the next directional move.
💵 FX & Bonds
US Treasury yields edged higher across the curve as traders continued to assess the outlook for Federal Reserve monetary policy following last week’s stronger inflation numbers. The shorter end saw the bigger move, with the two-year yield rising 3.0 basis points to 4.806%, while the ten-year yield increased 1.1 basis points to 5.119%. The dollar was relatively quiet despite the higher yields, with the Dollar Index down 0.03% to 101.69 as it continued to consolidate within recent ranges.
| Market | Change | Close |
|---|---|---|
| Dow | +0.69% | 52,856 |
| S&P 500 | +0.58% | 7,757 |
| Nasdaq | +1.05% | 26,702 |
| USD | -0.03% | 101.69 |
| US Treasury – 2 Year | +3.0 bps | 4.806% |
| US Treasury – 10 Year | +1.1 bps | 5.119% |
| Oil – Brent | +0.90% | $109.77 |
| Oil – WTI | -0.68% | $97.15 |
| Gold | +0.39% | $4,140.38 |
📌 Today’s Focus (AEST)
The macroeconomic calendar is relatively quiet today, with New Zealand inflation numbers and US Weekly Unemployment Claims among the few releases of note. Geopolitical developments are therefore likely to remain the main driver of market sentiment, particularly any fresh news surrounding the potential US-Iran peace deal. Traders will also be monitoring the reaction to the latest US technology earnings, with another lively session possible as markets digest the updates.
🔹 Asian Session – 8.45 am – New Zealand – CPI data
🔹 US Session – 11.30 pm – US – Weekly Unemployment Claims data