FPG Overnight Headlines 28/10/2022
The yield on the US 10-year note slid 8 basis points to 3.92 per cent. The UK 10-year yield fell 18 basis points to 3.39 per cent.
On Wall Street, shares were mixed in late trade as the Dow advanced on positive earnings results including from Caterpillar and McDonald’s, while the Nasdaq was dragged lower by Meta’s implosion. The NYSE Fang + Index sank 4.1 per cent.
The VIX was steady, holding just above 27.
The US Commerce Department said gross domestic product increased at a 2.6 per cent annualised rate last quarter, above expectations of a 2.4 per cent rise, in its advance GDP estimate.
The report showed an end to two straight quarterly decreases in output, which had raised concerns that the US economy was in recession. The core PCE price index, a key inflation metric, rose in line with expectations and showed a decline from the second quarter.
- AUD -0.7% to 64.50 US cents
- Bitcoin -2% to $US20,306
- On Wall St: Dow +0.6% S&P -0.6% Nasdaq -1.6%
- Stoxx 50 -0.02% FTSE +0.3% CAC -0.5% DAX +0.1%
- Spot gold -0.3% to $US1659.61/oz
- Brent crude +1.1% to $US96.73 a barrel
- Iron ore -6% to $US82.50 a tonne
- 10-year yield: US 3.92% Australia 3.83% Germany 1.96%
Local: Third-quarter PPI; NZ October consumer confidence
Overseas: Eurozone October economic and consumer confidence; UK October nationwide house prices; US third-quarter employment cost index, September personal income, spending and PCE Core, September pending home sales, University of Michigan October final consumer sentiment
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com