Daily Updates

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.

US equities fell and Treasury yields surged amid stronger-than-expected US economic data, a fresh rise in oil prices and a poorly received US Treasury auction.

US equities were mixed overnight, with losers and gainers evenly split across the S&P 500, leaving the benchmark index broadly unchanged. Information technology made the largest positive contribution, led by chipmakers, helping lift the Nasdaq to a fresh record high.

Wall Street started the trading week on a positive note, supported by optimism around US-China talks on extending the trade truce and, potentially, artificial intelligence.

The S&P 500 closed higher on Friday, but the Dow Jones fell, concluding its worst week since mid-March. Oil prices declined over the weekend, with WTI futures sliding below US$100 a barrel.

Wall Street bounced back last night, supported by lower oil prices amid reports that Saudi Arabian oil is being shipped through the Strait of Hormuz along Oman’s coastline.