ATFX ► Market Analysis ► Market Snapshot ► Daily Market Update: Gold Nears Record High, Oil Surges, and US Stocks Dip as Global Markets Brace for Busy Weeks

Daily Market Update: Gold Nears Record High, Oil Surges, and US Stocks Dip as Global Markets Brace for Busy Weeks

US Stock markets experienced another mixed day on Friday as investors weighed up a huge couple of weeks ahead for global markets. Stocks ultimately finished the week lower as concerns over the pending US election result increased while treasury yields, and the dollar pushed higher.

Oil prices jumped on increased concerns on the conflict in the middle east and Gold rallied again to settle just below its all-time high.

The event calendar is relatively bare today ahead of a busy week, although Yen traders will be expecting moves in the market on the open today after Japan’s ruling party failed to win a majority in parliament in polling yesterday.

Market	Change	Close
Dow	-0.61%	42,114
-0.03%	-0.03%	5,808
Nasdaq	+0.56%	18,578
USD	+0.18%	104.24
US Treasury – 2 Year	+2.8 bps	4.094%
US Treasury – 10 Year	+2.4 bps	4.226%
Oil – Brent	+2.25%	$76.05
Oil – WTI	+2.27%	$71.78
Gold	+0.44%	$2,747.69

Today’s Events (AEST):

Asian Session

All Day – New Zealand – Bank Holiday

US Session

4.30 am – Canada – Bank of Canada Governor Tiff Macklem Speaks

Last Updated: October 28, 2024

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.