2023-04-05 08:23:53
Daily Market Update – Wednesday, April 5, 2023
Equity markets declined on Tuesday, with all three major U.S. stock indices ending lower.
U.S. Dollar fell to a two-month low and Treasury yields eased after data showed a cooling in the U.S. labor market.
U.S. job openings in February dropped to the lowest level in nearly two years according to the U.S. Labor Department report.
New orders for U.S. manufactured goods fell for a second straight month in February due to ebbing demand for civilian aircraft.
Crude oil prices were near flat after a sharp rally tied to Sunday's announcement of an output target cut by OPEC and its partners.
Central banks have been raising interest rates to bring down inflation, with rate futures markets pricing in a roughly even chance of a 25 basis-point rate hike in May.
Gold prices have been rising, with spot gold adding 1.8% and COMEX Gold settling 1.93% higher.
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