Fixed Income Market Overview
Treasury yields remained relatively stable on Friday as traders analyzed recent U.S. economic data for insights on potential Federal Reserve rate cuts. The 10-year Treasury yield rose by 1 basis point to 4.267%, and the 2-year note yield also increased by 1 basis point to 4.739%. S&P Global’s “flash” PMI indicated the U.S. services sector reached a two-year high at 55.1, with manufacturing also showing improvement. Initial jobless claims increased slightly, while housing starts fell by 5.5% in May. Additionally, the Philadelphia Fed Manufacturing Index’s poor performance highlighted ongoing economic slowdown concerns.
A marathon, not a sprint: Apple’s AI push faces big challenges in China.
Weight loss drug contender Zealand Pharma jumps 18% on trial results.
Nvidia’s staggering gains leave investors wondering whether to cash in or buy more.
Asia stocks mostly fall after cooler-than-expected Japan inflation data; yen nears 159 against dollar.
Drinks maker Britvic rejects $3.93 billion takeover proposal from Carlsberg.
Major Indicies
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DJIA | 39,150.33 | 15.57 | 0.04%↑ |
| NASDAQ | 19,700.43 | -51.87 | -0.26%↓ |
| S&P 500 | 5,464.62 | -8.55 | -0.16%↓ |
| NIKKEI | 38,596.47 | -36.55 | -0.09%↓ |
| HSI | 18,028.52 | -306.80 | -1.67%↓ |
| VIX | 13.20 | -0.08 | -0.60%↓ |
Bonds
| Name | Yeild | CHG |
|---|---|---|
| US 10-YR | 4.26% | -0.01 |
| US 30-YR | 4.40% | 0.00 |
| US 5-YR | 4.28% | -0.01 |
| JPN 10-YR | 0.98% | 0.02 |
| UK 10-YR | 4.09% | 0.03 |
Futures & Commodities
| Name | Last | Change | %Change |
|---|---|---|---|
| WTI CRUDE | 80.73 | -1.44 | -1.75%↓ |
| NAT GAS | 2.705 | -0.036 | -1.31%↓ |
| GOLD | 2,331.20 | -37.80 | -1.60%↓ |
| SILVER | 29.61 | -1.21 | -3.92%↓ |
| COPPER | 4.442 | -0.120 | -2.63%↓ |
Equity Market Overview
The S&P 500 remained largely unchanged on Friday as Nvidia shares declined for the second consecutive day, influencing market dynamics. The Nasdaq Composite edged up 0.2%, while the Dow Jones Industrial Average fell by 30 points, or 0.1%. Nvidia, which recently hit an all-time high but closed 1% lower on Friday, remains up nearly 150% year-to-date. The S&P 500 is set for a 0.8% weekly gain, with the Nasdaq up 0.4% and the Dow leading with a 1.3% rise. Despite potential signs of an overextended market, analysts suggest a rebalancing rather than a crash, influenced by significant tech valuations and heightened volatility due to triple witching
