22 November 2024
US stocks ended higher on Thursday, as investors assessed earnings and data releases. The S&P 500 was up 0.5%.
US Treasuries ended modestly lower (yields higher) amid equity market gains. 10-year yields edged up 1bp to 4.42%.
European stock markets rose despite continued geopolitical tensions on Thursday. The Euro Stoxx 50 increased 0.6%. The German DAX rose 0.7% with the French CAC was up 0.2%. In the UK, the FTSE-100 gained 0.8%.
European government bonds traded mostly higher. 10-year German yields fell 3bp to 2.32% as 10-year French yields were flat at 3.10%. In the UK, 10-year gilt yields dipped 3bp to 4.44%.
Asian stock markets fell on Thursday, dragged down by weaker tech shares. Japan’s Nikkei 225 and India’s Sensex fell 0.9% and 0.5% respectively. Hong Kong’s Hang Seng also dropped 0.5%, while China’s Shanghai Composite was up 0.1%.
Crude oil prices rose on Thursday amid concerns about geopolitical tensions. WTI crude for January delivery settled 1.8% higher at USD70.1 a barrel.
US existing home sales increased to 3.96 million in October, from a revised 3.83 million in September, above market expectations.
The Eurozone and UK flash S&P Global composite PMI is expected to be unchanged at 50.0 and 51.8, respectively, in November, while in the US, the gauge should remain in expansion territory.
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