FPG Overnight Headlines 13/9/2022

Overnight headlines

The US 10-year note’s yield increased by 5 basis points to 3.36 percent. Traders are eagerly expecting the release of the August US CPI report.

All three important benchmarks increased on Wall Street. The VIX also increased, rising 4.7% to 23.87. All 11 of the S&P 500’s industry groupings saw gains, led by the energy and information technology sectors.

Apple increased 3.9% thanks to news of significant demand for its most recent iPhone model.

Delivery timeframes for many Pro models are already being pushed out to mid-October, and the majority of pre-orders currently anticipate 3–4 week delivery times. The initial demand and order trends for the iPhone 14 are marginally better than those for the iPhone 13 and are exceeding our expectations.

Market movements

AUD up 0.7% to 68.87 cents US

Bitcoin rose 4% to $22,423 USD

The Dow rose 0.7% on Wall Street. S&P 500 +1.1% Nasdaq rose 1.3%

In Europe: FTSE up 1.7%, Stoxx 50 up 2.1%. CAC +2% DAX +2.4%

Spot gold up 0.6% to $1,277.11 USD per ounce

Brent crude increased by 1.1% to $93.88 per barrel

US 3.35% for the 10-year yield. Germany is 1.65% while Australia is 3.63%

Today’s agenda

Local: Westpac-MI consumer confidence NAB business survey from September

Overseas data: Final August German CPI; Eurozone ZEW predictions September; ILO July unemployment rate for the UK July; US CPI for August