Dow +0.10% S&P +0.19% Nasdaq +0.21% Russell +0.09%
US Market closed higher again, technology (+0.3%) and financials (+0.6%)--leading the charge. Yellen stated today that it's premature to conclude that the underlying inflation trend is falling well short of the Fed's 2.0% target. In addition, the Fed chair noted that the Fed will consider the yield curve when setting rates, which created a sense that the central bank would like to see a steepening of the curve predicated on rising inflation expectations. the yield curve did steepen a bit on Thursday as the Treasury market gave back a good portion of Wednesday's advance. The 2-yr yield climbed two basis points to 1.36% while the 10-yr yield jumped three basis points to 2.35%. the consumer discretionary (+0.1%), energy (+0.4%), real estate (+0.2%), and consumer staples (unch) groups settled in the green while the industrials (-0.1%), materials (-0.1%), utilities (-0.4%), and telecom services (-0.6%) spaces finished in the red. TGT +4.8% after raising forecasts. USAfter Hours MDXG +5.5%, CYBR / ATEN -17% following guidance, cybersecurity names lower. Asian equity markets have generally traded with a slightly positive tone, in line with what was seen with US bourses. Trading has, however, been cautious ahead of upcoming US data (including CPI and retail sales) and bank corporate earnings (JPMorgan, Citigroup and Wells Fargo). the Nikkei has underperformed the Topix index, as Fast Retailing has declined by over 4% amid its 9-month results and accompanying broker downgrades. Taiwan Semi has traded slightly lower amid weaker than expected Q2 results and some disappointment in the market regarding its outlook. Infosys has gained over 2% on better than expected quarterly results.
Nikkei +0.19% Hang Seng +0.09% CSI +0.11% Shanghai -0.07%
Eur$ 1.1406 CNH 6.7809 CNY 6.7799 JPY 113.34 GBP 1.2958 CHF 0.9667 RUB 59.9088 WTI$ 46.11 +0.07%
S&P -0.01% EuroStoxx +0.20% FTSE +0.10% Dax +0.16% SMI +0.27%
Macro :
- U.K. Accepts It Must Pay Brexit Bill on Departing European Union
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