Chinese data sinks oil, Datadog soars 28%
Here are today's main market standouts as China data sends oil lower, while US IT monitoring and analytics company Datadog's shares leapt higher.
Global government bond yields slumped as peak rate bets are still in play. Tech powered Wall Street’s rally as the S&P 500 extended a seven-day winning streak. Amazon led gains. The US dollar strengthened as the BOE’s official hinted rate cuts in 2024, and the RBA did a dovish hike. Chinese data sank oil prices, with WTI and Brent futures hitting the lowest level since July. Gold retreated further due to a firmed USD, whilst risk-off abated. Asian stock markets are set to open slightly higher. ASX 200 futures were up 0.08%, and Hang Seng Index futures rose 0.18%.
Chart of the day
WTI, daily
Source: CMC Markets as at 8 November 2023