News

Market Update

James L. Flint

• January 08, 2024

U.S. futures for the S&P 500 remained steady while Dow Jones Industrial Average futures declined by 0.3%. However, it's important to note that changes in futures do not necessarily indicate movements after the opening bell.

European Markets

In morning trading, the Stoxx Europe 600 experienced a slight decrease of 0.2%. Temenos saw a notable rise of 4.4% and Elia Group also recorded a positive gain of 4.3%. On the other hand, alstria office REIT faced a decline of 4.5%, and Atos dropped by 4%. The FTSE 100 also registered a loss of 0.3%. French CAC 40 declined by 0.2%, while Germany's DAX remained flat.

Currency and Commodities

The Wall Street Journal Dollar Index showed a modest increase of 0.1% to reach 96.96.

In the world of commodities, Brent crude witnessed a decline of 1% to $78.01 per barrel, while WTI crude dropped by 1.1% to $73.01 per barrel.

Bond Market

The German 10-year Bund yield climbed by 2 basis points and reached 2.183% from an initial value of 2.159%. Similarly, the yield on the 10-year U.S. Treasury rose by 1 basis point, increasing from 4.046% to 4.053%. It's worth noting that bond prices and yields typically move in opposite directions.

Asian Stocks

Asian markets experienced a downward trend. While Japanese markets were closed, Hong Kong's Hang Seng declined by 1.9%. Furthermore, China's benchmark Shanghai Composite dropped by 1.4%.