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US Closing Report 10 Apr 2018

US cash equity markets are posting sizeable gains at the closing bell (DJIA +1.8%, S&P +1.7%, NASDAQ +2.1%).

US Closing Report (by Sigma Squawk)

Stocks have been on the front foot from the outset as tensions between the US and China continue to recede in their ongoing trade dispute. Most recently, US President Trump tweeted that he was very thankful for comments made by Chinese President Xi overnight and expects them to make great progress together. 

From a sector view, material stocks have outperformed led by metal stocks but it’s the energy sector that is leading the S&P 500 as oil prices trade at or close to multi-year highs – US crude oil futures settled at $65.51 (+$2.09). In fixed, Treasuries are offside with minimal action shows to the $30.0 Bln 3-year note sale which produced a minor tail of 0.1 basis points. 

Stronger-than-expected PPI data provided a weight earlier today but the increase in yields has failed to offer much support to the Greenback with the Dollar Index in the red. The Japanese Yen is the weakest of the G10’s however while both the Euro and Sterling continue to derive support from hawkish central bank chatter.


















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