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MARKET WRAP: ADP Numbers Missed Forecast

Theresa May failed to move Brexit out of its deadlock and the US ADP data has set a soft tone for the US NFP number.

Stocks

  • The S&P 500 Index gained 0.02 percent as of 15:10 London time. The Nasdaq Composite Index jumped 0.03 percent and the Dow Jones Industrial Average increased 0.03 percent.
  • The Stoxx Europe 600 continued its upward move and gained 0.73 percent.
  • The MSCI Emerging Market Index scored 0.4 percent.

Currencies

  • The Dollar Spot Index fell after the weak ADP data and lost 0.31 percent.
  • The Euro moved back above 1.12 and gained 0.35 percent to $1.1235 due to the strong eurozone PMI economic data
  • The British pound moved higher and gained 0.65 percent to $1.3162 despite Brexit chaos.

Bonds

  • The yield on 10-year Treasuries gained four basis points to 2.52 percent.
  • Germany’s 10-year yield fell two basis points to negative 0.03 percent.
  • Britain’s 10-year yield rose seven basis point to 1.08 percent.

Commodities

  • West Texas Intermediate jumped 0.10 percent to $62.65 a barrel.
  • Gold was still below the 1300 mark, it gained 0.17 percent to $1,291 an ounce.
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