Market Talk – Tuesday, Oct. 8

US Market Closings:

  • Dow declined 313.98 points or -1.19% to 26,164.04
  • S&P 500 declined 45.73 points or -1.56% to 2,893.06
  • Nasdaq declined 132.52 points or -1.67% to 7,823.78
  • Russell 2000 declined 25.19 points or -1.68% to 1,472.60

Canada Market Closings:

  • TSX Composite declined 127.80 points or -0.78% to 16,293.95
  • TSX 60 declined 8.47 points or -0.86% to 972.82

Brazil Market Closing:

  • Bovespa declined 591.37 points or -0.59% to 99,981.40

ENERGY:

Crude oil had a down day dropping over 1% at the time of writing. Today, we look to see the provision report from the API on whether there is a US draw or build. Last week, the results were surprising when there was a large build while the market was expecting a draw.

The oil markets had a mixed day today:

  • Crude Oil decreased 0.4 USD/BBL or -0.76% to 52.4536
  • Brent decreased 0.39 USD/BBL or -0.67% to 57.8424
  • Natural gas decreased 0.009 USD/MMBtu or -0.39% to 2.2908
  • Gasoline increased 0.004 USD/GAL or 0.25% to 1.5759
  • Heating oil increased 0.0001 USD/GAL or 0.01% to 1.9070
  • Top commodity gainers: Ethanol (3.15%), Corn (2.07%), Lean Hogs(2.02%), and Baltic Dry (1.75 %)
  • Top commodity losers: Cotton(-5.42 %), Lumber (-1.82%), Coffee (-1.49%), and Orange Juice (-1.21%)

The above data was collected around 14:25 EST on Tuesday.

BONDS:

Japan -0.20%(+3bp), US 2’s 1.42% (-4bps), US 10’s 1.54%(-1bps), US 30’s 2.01%(-3bps), Bunds -0.60% (-2bp), France -0.30% (-3bp), Italy 0.95% (-1bp), Turkey 13.40% (+0bp), Greece 1.49% (-16bp), Portugal 0.13% (-1bp), Spain 0.15% (-0bp) and UK Gilts 0.44% (-1bp).

  • Spanish 6-Month Letras Auction increased from -0.563% to -0.498%
  • Spanish 12-Month Letras Auction increased from -0.521% to -0.474%
  • US 3-Year Note Auction decreased from 1.573% to 1.413%
  • US 52-Week Bill Auction decreased from 1.740% to 1.600%
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Disclosure: None.

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