Fixed Income Market Overview
U.S. Treasury yields were mostly flat on Tuesday as investors awaited key Federal Reserve insights on inflation, interest rates, and the economy. The 10-year yield edged up slightly to 3.875%, while the 2-year yield dipped to 4.057%. This week’s focus is on the Fed, with July meeting minutes set for release on Wednesday, followed by the Jackson Hole symposium starting Thursday. Fed Chair Jerome Powell’s anticipated speech at Jackson Hole may offer insights on inflation and the economy, though firm guidance on interest rates is unlikely. Markets are increasingly confident of a rate cut in September.
U.S., China sign agreement to cooperate on financial stability.
Gold set for fresh highs ahead of Fed rate decision —analysts see prices at $3,000 by next year.
EU to hit Teslas imported from China with 19% tariffs.
U.S. crude oil holds steady above $74 per barrel after selling off.
Dollar hits year’s low as traders prepare for rate cuts.
Major Indicies
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DJIA | 40,834.97 | -61.56 | -0.15%↑ |
| NASDAQ | 19,719.82 | -46.67 | -0.23%↑ |
| S&P 500 | 5,597.12 | -11.13 | -0.19%↑ |
| FTSE 100 | 8,273.32 | -83.62 | -1.00%↑ |
| SX5E | 4,857.58 | -13.83 | -0.28%↑ |
| NIKKEI | 38,062.92 | 674.30 | 1.80%↓ |
| HSI | 17,511.08 | -58.49 | -0.33%↑ |
| VIX | 15.88 | 1.23 | 8.39%↓ |
Bonds
| Name | Yeild | CHG |
|---|---|---|
| US 10-YR | 3.80% | -0.064 |
| US 30-YR | 4.06% | -0.061 |
| US 5-YR | 3.68% | -0.069 |
| JPN 10-YR | 0.89% | 0.003 |
| UK 10-YR | 3.74% | -0.005 |
Futures & Commodities
| Name | Last | Change | %Change |
|---|---|---|---|
| WTI CRUDE | 73.17 | -1.20 | -1.61%↓ |
| NAT GAS | 2.19 | -0.03 | -1.65%↑ |
| GOLD | 2,513.99 | 9.71 | 0.38%↓ |
| SILVER | 29.43 | -0.11 | -0.03%↑ |
| COPPER | 4.15 | -0.02 | -0.52%↑ |
Equity Market Overview
Eli Lilly and Company
Eli Lilly’s weight loss drug tirzepatide, the active ingredient in Zepbound and Mounjaro, reduced the risk of developing Type 2 diabetes by 94% in obese or overweight adults with prediabetes, according to a long-term study. The study showed sustained weight loss over three years, with the highest dose group losing an average of 22.9% body weight. The results highlight tirzepatide’s potential to delay diabetes in prediabetic individuals. The drug belongs to the GLP-1 class, which suppresses appetite and regulates blood sugar. Eli Lilly plans to publish the findings and present them at a November conference.
Lowe’s
Lowe’s lowered its full-year forecast after reporting a decline in quarterly sales and projecting weak home improvement spending for the rest of the year. The company now expects total sales of $82.7 billion to $83.2 billion, down from previous estimates, and adjusted earnings per share of $11.70 to $11.90. CEO Marvin Ellison attributed the slowdown to high inflation, higher interest rates, and consumer hesitancy in making big-ticket purchases. Despite declining sales, Lowe’s saw growth in its online business and sales to home professionals. Ellison remains optimistic about the long-term outlook for the home improvement industry.
