CURRENCY MARKET WRAP
As of Wed Nov 13th, Singapore Time zone UTC+8
U.S. Dollar Index, +0.13%, 98.33
USDJPY, -0.05%, $109.00
EURUSD, -0.19%, $1.1012
GBPUSD, -0.03%, $1.2851
USDCAD, +0.02%, $1.3235
AUDUSD, -0.12%, $0.6842
NZDUSD, -0.38%, $0.6337
The Treasury market reopened for trading after being closed for Veterans Day yesterday. An uptick in demand pushed the 2-yr yield down one basis point to 1.65% and the 10-yr yield down two basis points to 1.91%. The U.S. Dollar Index increased 0.13% to 98.33. WTI crude was unchanged at $56.85/bbl.
Trump’s lunchtime speech at the Economic Club of New York on Tuesday took aim once again at the Fed for its interest rate policy in a highly anticipated speech that offered no fresh details on his administration’s long-running trade war with China. Trump said U.S. and Chinese negotiators were “close” to a “phase one” trade deal, but largely repeated well-worn rhetoric about China’s “cheating” on trade.
STOCK MARKET WRAP
S&P500, +0.16%, 3,091.84
Nasdaq, +0.26%, 8,486.09
Nikkei Futures, +0.58%, 23,435.0
S&P 500 clipped the 3100 level for the first time on Tuesday, but the record run lost some steam to leave the benchmark index up just 0.16% and below 3100 on a closing basis. The Nasdaq Composite (+0.3%) closed at a record high, while the Dow Jones Industrial Average (unch) and Russell 2000 (unch) finished unchanged.
The market also received support from the earnings-driven gains in Rockwell Automation (ROK 198.01, +18.81, +10.5%), DXC Technology (DXC 35.25, +5.85, +19.9%), and Tyson Foods (TSN 88.88, +6.15, +7.4%), as well as the healthy gains from Facebook (FB 194.47, +4.86, +2.6%) and Walt Disney (DIS 138.58, +1.84, +1.4%).
Facebook introduced “Facebook Pay,” a feature that will allow users to send payments across its platforms. Disney officially launched its streaming service, which experienced some technical difficulties due to higher-than-expected consumer demand.