FPG Overnight Headlines 19/9/2022 

Overnight headlines

In New York, the yield on the US 10-year note remained constant at 3.45%.

Due to the unexpected earnings warning from FedEx, all three major Wall Street benchmarks closed lower on Friday in New York, albeit they were still off their session lows.

Energy led nine of the S&P 500’s 11 business sectors lower, bringing the index’s closing price to 3873. Real estate and basic goods both finished higher. The VIX increased by 0.1% to 26.3.

Market movements

• AUD up 0.2% to 67.16 cents US
• Dow fell 0.5% on Wall Street. S&P 500 -0.7% -0.9% Nasdaq
• Stoxx 50 fell 1.2% in Europe. FTSE -0.6% and CAC -1.3% DAX -1.7%
• Spot gold up 0.6% to $1,650.05 USD/oz
• Brent crude rose by 0.8% to $91.00 per barrel
• Ten-year yield: 3.45% US, 3.2% Australia, 3.2% Germany

Today’s agenda

Local: The AFR Property Summit 2022 will feature a speech by Jonathan Kearns, head of domestic markets at the RBA.

Overseas data: NZ consumer confidence third quarter; UK Rightmove house prices in September; US NAHB housing market index in September.

For Queen Elizabeth’s funeral on Monday, all markets in the UK will be closed.

The Federal Reserve policy meeting, where a third consecutive 0.75 percentage point rate increase is anticipated to be approved, will be the main topic of discussion this week. On Thursday, a statement is expected to be made public.