Fixed Income Market Overview
U.S. Treasury yields declined on Friday as investors evaluated the U.S. economy following positive labor data. The 10-year Treasury yield fell by 6 basis points to 3.936%, while the 2-year yield decreased by 2 basis points to 4.024%. This drop came after a weaker-than expected U.S. jobs report, which had caused market volatility. Lower-than-expected unemployment claims helped boost the S&P 500 to its best day since 2022, also lifting global markets. Traders adjusted their expectations for the Federal Reserve’s September rate cut, with equal odds for a 25 or 50 basis-point reduction.
U.S. weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market.
U.S. crude oil on pace for more than 4% weekly gain as recession fears ease.
China’s consumer prices pick up more than expected in July, up by 0.5%.
Disney to spend $5bn in Europe on making new blockbusters.
10-year Treasury yield dips as traders weigh state of U.S. economy after latest data.
Major Indicies
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DJIA | 39,497.54 | 734.09 | 1.89%↑ |
| NASDAQ | 18,513.10 | 645.73 | 3.61%↑ |
| S&P 500 | 5,344.16 | 24.85 | 0.46%↑ |
| FTSE 100 | 8,168.10 | 1.22 | 0.01%↑ |
| SX5E | 4,675.28 | 7.22 | 0.15%↑ |
| NIKKEI | 35,025 | -64.62 | -0.18%↓ |
| HSI | 17,090.23 | 212.37 | 1.25%↑ |
| VIX | 20.37 | -7.48 | -26.85%↓ |
Bonds
| Name | Yeild | CHG |
|---|---|---|
| US 10-YR | 3.93% | -0.003 |
| US 30-YR | 4.21% | -0.027 |
| US 5-YR | 3.79% | 0.034 |
| JPN 10-YR | 0.85% | -0.044 |
| UK 10-YR | 3.72% | 0.015 |
Futures & Commodities
| Name | Last | Change | %Change |
|---|---|---|---|
| WTI CRUDE | 76.84 | 1.61 | 2.14%↑ |
| NAT GAS | 2.14 | 0.03 | 1.46%↑ |
| GOLD | 2431.32 | 48.4 | 2.03%↑ |
| SILVER | 27.45 | 0.84 | 3.19%↑ |
| COPPER | 3.99 | 0.04 | 1.03%↑ |
Equity Market Overview
Ola Electric
Ola Electric’s shares surged 20% in their market debut, valuing the Indian electric vehicle startup at approximately $4.8 billion. The company raised over $730 million through its IPO, marking India’s largest listing of the year. Investors are optimistic about Ola Electric’s potential in India’s booming electric vehicle market, particularly in the two-wheeler segment, where electric models are expected to dominate sales by 2030. Despite strong revenue growth, the company has yet to achieve profitability. The IPO proceeds will be used to reduce debt, fund R&D, and expand its battery giga factory.
Hargreaves Lansdown
Hargreaves Lansdown, the UK’s largest stockbroker, accepted a £5.4 billion ($6.9 billion) takeover offer from a consortium including CVC Group, Abu Dhabi’s sovereign wealth fund, and Nordic Capital. The offer of 1,110 pence per share, plus a 30 pence dividend, represents a 54% premium over the pre-offer price. The bid follows a previously rejected £4.7 billion offer, which was deemed
undervalued. Hargreaves Lansdown’s recent earnings showed a 4% increase in profit and revenue, although new business inflows declined. The consortium plans substantial investment in technology to drive the company’s next growth phase.
