Daily Updates

US equities ended last week on a strong note, with the S&P 500 rising 0.7%, led by the tech sector. The market was supported by lower US oil prices and an underwhelming employment report, which reduced expectations of a Fed interest rate hike later this month.

US equities extended their decline early in the overnight session before a late rally lifted the market into positive territory, with the S&P 500 recording its first gain of the week.

US equities had another weak session despite better-than-expected economic data, including a downside inflation surprise. The encouraging inflation results kept shorter-dated US Treasury yields contained as expectations of a Fed rate hike later this month eased.

The S&P 500 fell for the fifth time in the past six trading days overnight. Comments from the FOMC Vice Chair that there was no urgency for the Fed to raise rates helped push US Treasury yields at the short end of the curve lower.

US equities slipped overnight, with the S&P 500 more than reversing Friday’s gains to close at a 10-day low. Technology was the largest drag, although most sectors declined.

US equities were mostly lower overnight, although the S&P 500 finished broadly flat after recovering most of its early losses as investors responded to reports that the US and Chinese presidents had agreed to extend their trade truce.