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Tuesday,06 February 2024 at 16:42
and European markets were higherTuesday as investor confidence remains robust despite the lack of a
clear timetable for interest rate cuts.
In the US, Wall Street's
main indexes inched higher on Tuesday as investors parsed
big-ticket earnings and awaited commentary from policymakers for clues on the
timing of the Federal Reserve's first interest-rate cut.
Gold regained some groundon
Tuesday on a slight pullback in the U.S. dollar and Treasury yields, while
traders positioned for remarks from several Federal Reserve officials this week
to gauge the likely pace of interest rate cuts this year.
Oil prices were little
moved on Tuesday, as market participants assessed a visit
to the Middle East by U.S. Secretary of State Antony Blinken to discuss a
ceasefire offer in the region.
In corporate news, US pharmaceutical company Eli Lilly reported stronger than expected
results on the strong launch of its new weight loss drug, Zepbound.
The quarterly results are the first to include sales of Zepbound, which some
analysts say could post more than a billion dollars in sales in its first year
on the market and eventually, become the biggest drug of all time.
FTSE 100 7,681 +0.90%
FTSE 250 19,171 +0.80%
DAX 17,042 +0.82%
Dow Jones 38,461 +0.21%
S&P 500 4,946 +0.07%
NASDAQ 15,584 (-0.08%)
UK 10-YR YIELD 3.956
Gold $2,036 +0.61%
Brent $78.71 +1.12%
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.