FPG Overnight Headlines 12/12/2022

Overnight headlines

In New York, the yield on the US 10-year note increased by 10 basis points to 3.58 percent.

After a largely quiet session, all three major Wall Street benchmarks declined in the last hour. The Dow closed at 33,476 down 305 points. S&P 500 ended the day at 3934.

Ten out of the eleven S&P 500 industry groups finished down as sentiment turned significantly negative. With a 2.3% decrease, energy saw the biggest drops. The fact that eight of the dropping categories dropped by less than 1% may have been a plus. A little 0.02 percent increase was recorded in communication services.

The US consumer price index for November will be made public early on Wednesday AEDT. On Thursday, Australia’s November jobs report will be released.

Philip Lowe, the head of the RBA, will deliver the opening remarks on Wednesday at the AusPayNet Annual Summit in 2022.

Market movements

• AUD up 0.4% to 67.95 cents US
• Dow dropped by 0.9% on Wall Street. S&P -0.7% Nasdaq fell 0.7%
• Stoxx 50 up 0.5%, FTSE up 0.1%, CAC up 0.5%, and DAX up 0.7%
• Spot gold increased by 0.5% to $US1797.32/oz.
• A barrel of Brent crude fell by 0.1% to $76.10 USD.
• Iron ore up 1.5% to US$112.40 per tonne
• US 3.58% 10-year yield Germany is 1.92% while Australia is 3.29%

Today’s agenda

Local: NZ nett migration in October

Overseas data: UK Rightmove property prices for December