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New York

24 Hour Market News

US Closing Report

October 11, 2017

US cash equity markets have closed with modest gains this afternoon (DJIA +0.2%, S&P +0.2%, NASDAQ +0.3%). The Dow Jones Industrial Average did hit a new record high in the latter stages, supported by sizeable gains in Johnson & Johnson and McDonald’s. In currency space, the US Dollar fell to new lows for the day following the release of the FOMC’s September meeting minutes. Many participants said they thought another increase in the target range later this year was likely to be warranted but several said their decision would depend on incoming inflation data. Many also expressed the view that low inflation readings this year might reflect not only transitory factors. We did also hear from Kansas City Fed Governor George who said they should continue with gradual rate increases and San Francisco Fed Governor Williams who said a gradual rate of increases remains appropriate. US Treasuries meanwhile are flat as we move through the Wall Street close after showing minimal reaction to the three and ten year note offerings this afternoon with yields on both coming in tight to their respective when-issued rates. Elsewhere, North Korean Foreign Minister said US President Trump lit the wick of war with his UN speech and North Korea will make the US pay with a hail of fire.

For a more detailed report, please visit the ‘Market Research’ section.