Global Markets:
● Asian Stock Markets : Nikkei up 2.28%, Shanghai Composite up 0.31% Hang Seng down 0.26% ASX up 0.11%
● Commodities : Gold at $4,172.87 (0.24%) Silver at $61.548 (1.87%), Brent Oil at 101.52 (-0.69%), WTI Oil at 90.10 (-1.13%)
● Rates : US 10-year yield at 5.264, UK 10-year yield at 5.3710, Germany 10-year yield at 3.4545
News & Data:
● (USD) Average Hourly Earnings m/m
0.1% to 0.3% expected
Markets Update:
Stock futures were little changed Sunday evening as elevated Treasury yields weighed on investor sentiment, with markets awaiting minutes from the Federal Reserve’s latest meeting for clues about the central bank’s next interest rate move.
Dow Jones Industrial Average futures rose 53 points, or 0.1%, while S&P 500 futures gained 0.1%. Nasdaq-100 futures advanced 0.2%.
In Asia, Japan’s Nikkei 225 climbed more than 1.7%, while the broader Topix gained 0.8%. Australia’s S&P/ASX 200 rose 0.5%. Markets in mainland China and South Korea were closed for holidays.
U.S. stocks ended Friday higher, with the Dow gaining 0.5%, the S&P 500 advancing 0.7% and the Nasdaq Composite rallying 1.2% after reaching a record high during the session.
The market is coming off a volatile week marked by surging Treasury yields and a weaker-than-expected jobs report, which reduced concerns about another Fed rate hike this month. However, rising yields remain a key concern, with the 10-year Treasury yield reaching its highest level in more than two decades.
Technology stocks led Friday’s gains, with Nvidia reaching an all-time high and the Nasdaq setting a record. Investors will watch whether that momentum continues.
The week ahead features the ISM services report, Fed meeting minutes on Wednesday and consumer sentiment data Friday. Earnings from Constellation Brands, Levi Strauss, PepsiCo and Delta Air Lines are also due.
Upcoming Events:
● 2:00 PM GMT – USD ISM Services PMI
