In a market wrap, analysts at ANZ Bank New Zealand Limited explained that US equities were in the green at the time of writing, but gains have eroded throughout the trading day.
Key Quotes:
“The S&P and DJIA were up 0.7% and 0.1% respectively with financials leading gains and industrials and technology weighing.”
“The Nasdaq was up as much as 1.8% before shedding gains to be down 0.5%, as Netflix and Amazon.com dropped more than 3%.”
“Key European indices closed higher, with the FTSE 100, DAX and CAC 40 up 1.4%, 1.2% and 0.4% respectively. The USD was generally stronger against the G10. US treasury yields lifted across the curve with 10-year up 2bps. Italian yields fell double digits (11-18bps across the curve, and narrowing the 10-year spread over German bonds below 300bps), after S&P reaffirmed the nation’s rating at BBB and lowered the outlook from stable to negative, which was better than some were expecting. Commodities were biased lower with oil and gold down 0.4% and 0.7% respectively.”
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