US Treasury

Key events:          USA - Initial Jobless Claims USA - PPI (MoM) (Oct)     USA - Crude Oil Inventories USA - Fed Chair Powell Speaks The S&P 500 inched up Wednesday as Treasury yields rebounded from session lows, despite inflation data coming in as expected, keeping a potential December rate cut in play. The Dow Jones Industrial Average rose by 47 points (0.1%), the S&P 500 gained a slight 0.02%, while the NASDAQ Composite dipped by 0.2%.

Key events: Eurozone - ECB's Schnabel Speaks Eurozone - Eurogroup Meetings Eurozone - ECB McCaul Speaks USA - FOMC Member Bostic Speaks The S&P 500 slid lower on Monday, pressured by a rise in Treasury yields after a much stronger-than-expected jobs report reduced hopes for a sizable interest rate cut by the Federal Reserve next month. The Dow Jones Industrial Average fell by 398 points, or 0.9%, while the S&P 500 and NASDAQ Composite dropped 1% and 1.2%, respectively.

Key events: Canada - Employment Change (Jul) Canada - Unemployment Rate (Jul) The S&P 500 ended Thursday on a positive note as labor market data eased fears of an impending recession. The Dow Jones Industrial Average gained 683 points, or 1.8%, while the S&P 500 advanced 2.3%, and the NASDAQ Composite surged 2.9%.

Key events: USA - S&P Global US Manufacturing PMI (Jul) USA - S&P Global Services PMI (Jul) Canada - BoC Interest Rate Decision USA - New Home Sales (Jun) USA - Crude Oil Inventories The S&P 500 closed lower on Tuesday amid cautious trading ahead of quarterly earnings from major tech companies. The Dow Jones Industrial Average fell 57 points, or 0.1%, while the S&P 500 dropped 0.2%, and the NASDAQ Composite declined 0.1%.

Key events: USA - Nonfarm Employment Change (May) USA - S&P Global Services PMI (May) Canada - BoC Interest Rate Decision USA - ISM Non-Manufacturing PMI (May) USA - ISM Non-Manufacturing Prices (May) USA - Crude Oil Inventories The Dow closed higher on Tuesday as a significant drop in job openings to a three-year low pointed to weaker economic growth, raising hopes for a Federal Reserve rate cut later this year.

Key events:  Eurozone - CPI (YoY) (May) USA - Core PCE Price Index (MoM) (Apr) USA - Core PCE Price Index (YoY) (Apr) USA - Chicago PMI (May) Canada - GDP (QoQ) (Q1) The S&P 500 closed lower on Thursday, pulled down by a drop in technology stocks, particularly Salesforce, and cautious sentiment ahead of key inflation data expected on Friday. The Dow Jones Industrial Average fell by 330 points, or 0.9%. The S&P 500 decreased by 0.6%, and the NASDAQ Composite declined by 1.1%.

Key events: USA - FOMC Member Kashkari Speaks UK - BRC Retail Sales Monitor (YoY) (Mar) The S&P 500 ended the day flat on Monday, experiencing swings between gains and losses as cautious trading prevailed ahead of the latest inflation data and the start of the first-quarter earnings season later in the week. The Dow Jones Industrial Average slipped by 11 points, or 0.03%, while the S&P 500 edged down by 2 points, or 0.04%. Conversely, the NASDAQ Composite rose by 5 points, or 0.03%.

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Key events: USA - Average Hourly Earnings (MoM) (Feb) USA - Nonfarm Payrolls (Feb) USA - Unemployment Rate (Feb) The S&P 500 achieved a new record high on Thursday, driven by gains in the tech sector. Federal Reserve Chair Jerome Powell's reaffirmation of potential rate cuts this year fueled investor confidence, reinforcing the belief that global central banks are likely to initiate monetary policy easing measures in June.

Key events: UK - CPI (YoY) (Jan) USA - Crude Oil Inventories Japan - GDP (QoQ) (Q4) On Tuesday, the Dow experienced a substantial decline, marking its most significant daily loss since March 2023. This downturn was triggered by a surge in Treasury yields, propelled by an inflation report that exceeded expectations. The report dampened hopes for an earlier and more aggressive Federal Reserve rate-cutting cycle.