- Major indices move higher led by the NASDAQ index
- Crude oil futures settle at $61.79
- More from the White House: Meeting with Putin not completely off the table
- White House: Trump to meet with Japan, China and So. Korea leaders next week
- NYT: US to begin investigation into China compliance with 2020 trade deal
- U.S. Treasury sells $26 billion a 5 year TIPS at a high yield of 1.182%
- European indices close higher. US stocks trading near highs.
- Freddie Mac 30 year mortgage rate average is 6.19% in the current week:
- Yahoo Finance: Not so fast on Trump administration investment in quantum stocks.
- Russia’s Putin: Russia wants to continue dialogue toward peace
- Kansas City Fed manufacturing index for October 15 versus 4 last month
- Canada PM Carney: We will protect our workers if we don’t make progress on talks with US
- US existing home sales 4.06 million versus 4.06 million estimate
- Kuwait oil minister: OPEC ready to offset any shortage in the market by rolling back cuts
- Trump: Looks to raise the tariff rate quota for Argentina beef to lower the prices
- Canada retail sales for August 1.0% versus 1.0% estimate
- investingLive European FX markets wrap: Dollar steady, oil extends rebound on the week
The dollar moved mostly lower with the USDJPY and GBPUSD the exception. The USD moved higher vs the JPY by 0.39% and the GBP by 0.27%. The greenback was the weakest vs the AUD (see post here) after reversing the bias in the US session on risk-on flows .
For the USDJPY it move up in the Asian Pacific session and held onto the gains above a key swing level at 152.11. The high from October remains a key target at 153.269.
The GBPUSD is trading below a swing area between 1.3323 to 1.3341 but fell 5 pips short of the low from yesterday and the week at 1.33049 by about 4 pips. Get below that level in the new trading day, would be an open door to lower levels.
The US stocks moved higher today as stocks were buoyed by risk on flows and gains in quantum stocks (rumors of government support).
- Dow rose 0.31%
- S&P rose 0.58%
- Nasdaq rose 0.89%.
The small cap Russell 2000 was the best performer with a gain of 1.27%.
The quantum stocks saw strong gains despite the WH denying that they were looking to invest in the industry now.
- D-Wave Quantum, up 13.78%
- Rigetti computing +9.82%
- Iong Inc, up 7.07%
- Quantum computing was at 7.20%
US yields moved higher with the 10 year yield moving back above 4.00%.
- 2 year yield rose 4.7 basis point to 3.490%
- 5 year yield rose 5.4 basis points to 3.609%
- 10 year yield rose 5.0 basis point to 4.002%
- 30 year yield rose 4.3 basis points to 4.581%.
Tomorrow the US government will make a special exception given the government shutdown, when they release the US CPI data at 8:30 AM ET. The expectation is for 0.4% for the core measure in 0.3% for the headline number.
Gold rose by $27 or 0.66% at $4125. Crude oil surged after the decision to increase researchers against Russian oil companies. The price is trading up $3.27 at $61.71 ( see post here) .
Bitcoin is higher by about $2000 on the day at $109,553.
This article was written by Greg Michalowski at investinglive.com.