Sunday 22, October 2017 by William Mullally

US equities trim earlier losses

US equities trimmed earlier losses on Thursday but were still in negative territory a day after posting new all-time highs on all three main indices. Major US Indices fell at the open with the Dow down more than 100 points at its session low before a recovery at the close. The S&P fell 0.05 per cent, to 2,559.92 while the Nasdaq fell 0.3 per cent. In the Treasury market, the US 10Y yield is 4bps higher at 2.36 per cent

US equities trimmed earlier losses on Thursday but were still in negative territory a day after posting new all-time highs on all three main indices. Major US Indices fell at the open with the Dow down more than 100 points at its session low before a recovery at the close. The S&P fell 0.05 per cent, to 2,559.92 while the Nasdaq fell 0.3 per cent. In the Treasury market, the US 10Y yield is 4bps higher at 2.36 per cent

“President Trump is said to favour current Federal Reserve Governor Jerome Powell to head the central bank according to press reports. The decision is expected on Nov 3. The dollar rose on news of the Washington budget decision. The dollar basket (DXY) is a0.35 higher at 93.50. Oil is trading higher in Asia with WTI 0.37 per cent higher at $51.48 per barrel. Oil had fallen on Thursday (below $52) ending a 4-day winning run for the market. Brent is at $ 57.38 per barrel. Gold prices edged lower in early Asian trading as the dollar rose and is currently at $ 1283 per troy ounce.