Market Updates

Daily Updates

A daily summary of financial market developments and key macroeconomic data.

See the latest developments in the financial markets and a summary of key macroeconomic data from around the globe and in Australia. Our Daily Reports focus on data that has been published during the previous trading day.

  • 19 Mar 2024 Daily Report 19 March 2024

    US stocks rose overnight, supported by strong gains in communication technology amid news that Apple is in talks with Google about incorporating its Gemini artificial intelligence service into the iPhone system.

  • 18 Mar 2024 Daily Report 18 March 2024

    Friday was another bad day for equities, with the US benchmark, the S&P 500, falling for the third day in a row. Shares were also mainly lower in Europe and the Asia-Pacific.

  • 15 Mar 2024 Daily Report 15 March 2024

    US equities fell again and Treasury yields jumped as an upside surprise to the US PPI, which followed stronger-than-expected CPI results earlier in the week, pushed inflation expectations higher and led to a further unwinding of fed funds rate cut expectations.

  • 14 Mar 2024 Daily Report 14 March 2024

    Global stocks were mixed yesterday, with a lack of top-tier data to provide guidance.

  • 13 Mar 2024 Daily Report 13 March 2024

    Global stocks were on the rise during the yesterday’s session, with the gauge of global stock performance, the MSCI World Index, reaching a new record high.

  • 12 Mar 2024 Daily Report 12 March 2024

    US markets had an indecisive start to the week ahead of the US CPI figures due tonight.

  • 11 Mar 2024 Daily Report 11 March 2024

    US stocks retreated amid profit taking on Friday as the US employment report, while still solid, suggested labour market conditions are not as strong as thought.

  • 08 Mar 2024 Daily Report 8 March 2024

    The rally in the US and European stock markets gathered pace overnight, with the S&P 500 and Stoxx 600 reaching new record highs, as Fed and ECB heads confirmed they expect to starting cutting interest rates in the coming months. The WATC Economics team would like to wish a happy International Women’s Day to all our female readers.

  • 07 Mar 2024 Daily Report 7 March 2024

    US stocks rose overnight as Fed Chair Jerome Powell reiterated in his Congressional testimony that fed funds rate cuts are likely to begin later this year.

  • 06 Mar 2024 Daily Report 6 March 2024

    Global stocks were predominantly down yesterday, with declines led by information technology, as traders became concerned over the excessive valuations of some tech companies.

  • 05 Mar 2024 Daily Report 5 March 2024

    US stocks declined yesterday, following gains on Friday. Investors are awaiting US jobs figures and Fed Chair Jerome Powell’s appearance in the US Congress later this week.

  • 01 Mar 2024 Daily Report 1 March 2024

    Wall Street closed the month in black, with the S&P 500 and Nasdaq edging up to fresh record highs.

  • 29 Feb 2024 Daily Report 29 February 2024

    Wall Street saw slight declines last night, led by communication services, information technology and healthcare. The AUD/USD slid back below US$0.65, to be the weakest in two weeks. Commonwealth bond yields declined across the yield curve.

  • 28 Feb 2024 Daily Report 28 February 2024

    US stocks were again mixed last night, as investors await news on PCE price inflation due on Thursday, which is expected to add to recent evidence that the disinflation process is stalling.

  • 27 Feb 2024 Daily Report 27 February 2024

    US stocks started the week slightly lower, with little in the way of news or major economic data to provide guidance.

  • 26 Feb 2024 Daily Report 26 February 2024

    US stocks were mixed on Friday, with the Dow Jones seeing a slight gain, the S&P 500 broadly flat and the Nasdaq down as the rally in tech stocks lost steam.

  • 23 Feb 2024 Daily Report 23 February 2024

    US shares surged to fresh record highs overnight, with gains led by tech stocks after the strong earnings results from Nvidia.

  • 22 Feb 2024 Daily Report 22 February 2024

    US shares were mixed yesterday, with the S&P 500 and Dow Jones closing higher after a late rally, while the tech-heavy Nasdaq closed in red.

  • 21 Feb 2024 Daily Report 21 February 2024

    Wall Street had a negative start to the US trading week, as investors await quarterly results from artificial intelligence chip marker Nvidia and FOMC minutes due tonight.

  • 20 Feb 2024 Daily Report 20 February 2024

    It was a quiet night in the global financial markets, with US investors away for Presidents’ Day. 3-year Commonwealth bond yields declined by 2bps, and 10-year yields ebbed 1bp, to remain up month to date in both cases. The Aussie dollar is broadly flat against all the global currencies.

  • 19 Feb 2024 Daily Report 19 February 2024

    Wall Street ended last week on the back foot, with sentiment turning sour following the upside surprise to the US PPI.

  • 16 Feb 2024 Daily Report 16 February 2024

    The US stock indices continued to climb overnight, with the S&P 500 reaching a fresh record high, as a disappointing US retail sales report for January eased concerns that the Fed may not start easing early due to the strength of consumer demand.

  • 15 Feb 2024 Daily Report 15 February 2024

    US stocks bounced back overnight as the losses on Tuesday attracted dip buyers, while US Treasury yields declined amid some soothing Fedspeak.

  • 14 Feb 2024 Daily Report 14 February 2024

    US stocks retreated overnight, while Treasury yields surged, as the upside surprise to the US CPI put expectations for imminent fed funds rate cuts in question.

  • 13 Feb 2024 Daily Report 13 February 2024

    It was an uneventful night on the global financial markets, with no significant data releases or events. The S&P 500 retreated from its record high, but remained above 5,000 points. The Nasdaq also fell, while the Dow Jones edged to a fresh record high.

  • 12 Feb 2024 Daily Report 12 February 2024

    US stocks were mainly higher on Friday, with the S&P 500 breaking through 5,000 points, although the Dow Jones retreated from its record high.

  • 09 Feb 2024 Daily Report 9 February 2024

    US stocks rose marginally following a choppy and uneventful session, while Treasury yields picked up amid scarce data flow. The Australian dollar depreciated against all the major currencies except for the weaker Japanese yen, with the AUD/USD falling below US$0.65.

  • 08 Feb 2024 Daily Report 8 February 2024

    All three major US stock indices closed at record highs last night, with the S&P 500 closing just short of 5,000 points. US 10-year Treasury yields were little changed despite a successful record US$42b auction. The Australian dollar depreciated against all the major currencies except for the weaker Japanese yen.

  • 07 Feb 2024 Daily Report 7 February 2024

    US stocks bounced overnight amid limited data flow, while US Treasury yields fell ahead of a record US$42b 10-year note auction. The AUD/USD rose back above US$0.65 after the RBA decision yesterday and continued to climb overnight. Commonwealth bond yields declined overnight.

  • 06 Feb 2024 Daily Report 6 February 2024

    US equities declined last night, while Treasury yields picked up, as the strong ISM data and comments by Fed Chair Jerome Powell supported the view that the FOMC will not embark on rate cuts soon.

  • 05 Feb 2024 Daily Report 5 February 2024

    US Treasury yields surged, and US stock indices rose to fresh record highs, after the rise in US non-farm payrolls in January exceeded all expectations.

  • 02 Feb 2024 Daily Report 2 February 2024

    US stocks rose overnight, supported by positive outlook reported by tech giants and renewed Fed easing hopes.

  • 01 Feb 2024 Daily Report 1 February 2024

    US stocks retreated overnight, as Fed Chair Jerome Powell signalled that the FOMC will leave their options open regarding the timing of any interest rate cuts.

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