Wall Street loses steam as oil sell-off deepens, Disney earnings beat.
The Wall Street rally lost steam as the tech-led rebound slowed, with the energy sector continuing to lag. Here are the headlines:
The Wall Street rally lost steam as the tech-led rebound slowed, and energy continued lagging Long-dated US bond yields fell after a US$40bn auction, with the 30-year Treasury yield slumping to a month-low The US dollar was slightly higher, while Asian currencies weakened amid ongoing China’s property woes USD/JPY reclaimed 151, which may spark intervention bets again Crude oil deepened losses on economic concerns. WTI and Brent futures fell off the 200-day moving averages at a fresh three-month low Gold extended a three-day losing streak, testing key support as haven demands abated Asian stock markets are set to open slightly higher. ASX 200 futures were up 0.38%, and Hang Seng Index futures rose 0.19%Chart of the day
Gold, daily
Source: CMC Markets as at 9 November 2023