Global Markets:
● Asian Stock Markets : Nikkei down 0.50%, Shanghai Composite down 0.71% Hang Seng down 2.14% ASX up 0.50%
● Commodities : Gold at $4,689.89 (0.23%) Silver at $68.905 (-0.90%), Brent Oil at 91.31 (-1.47%), WTI Oil at 85.64 (-1.63%)
● Rates : US 10-year yield at 4.709, UK 10-year yield at 5.0666, Germany 10-year yield at 3.2564
News & Data:
● (USD) Retail Sales m/m 0.4% to 0.6% expected
Markets Update:
Stock futures edged lower Sunday night as investors looked to rebound from a difficult week marked by a sharp rise in Treasury yields. Dow Jones futures fell 44 points, or 0.1%, while S&P 500 and Nasdaq-100 futures declined 0.1% and 0.2%, respectively.
Last week, the Dow dropped 0.8% for its second straight weekly decline. The S&P 500 fell 1.4%, while the Nasdaq lost 2%, ending three-week winning streaks for both indexes.
Asian markets were mixed Monday. Japan’s Nikkei 225 slipped 0.1%, while the Topix was flat. South Korea’s Kospi declined 0.71%, although the Kosdaq gained 0.94%. Australia’s S&P/ASX 200 advanced 0.33%.
Rising global bond yields have weighed on stocks. The 30-year U.S. Treasury yield surpassed 5.3% last week, reaching its highest level in nearly two decades. Yields in Japan, France and Germany also climbed to multiyear highs.
Investors remain concerned that the U.S.-Iran war could persist, keeping oil prices elevated and adding to inflation pressures. Treasury Secretary Scott Bessent announced measures aimed at stabilizing the long end of the yield curve, but the relief was temporary.
This week, investors will focus on July PCE inflation data, the Federal Reserve’s Jackson Hole symposium and speeches from policymakers. Meanwhile, AI remains in focus as Nvidia and Marvell Technology prepare to report earnings. Nvidia has reportedly warned clients of server price increases exceeding 15%.
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