Issue link: https://maltatoday.uberflip.com/i/1481025
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 6.10.2022 7 MARKETS International Markets Global Indices Trading Date: 5 Oct 2022 US stocks soar on hopes Fed eases interest rate pressure US markets enjoyed a second consecutive day of strong gains as weaker than expected US job postings gave in- vestors hope that the Federal Reserve may take its foot of the accelerator with regard to the pace of future interest rate increases. At the close the Dow Jones Industrial Average had stormed 825 points higher, or 2.8%, to 30,316, the S&P 500 had advanced 113 points, or 3.06%, to 3,791 and the Nasdaq Composite soared 361 points, or 3.34%, to 11,176. Bond investors are now starting to price in the possibili- ty that the Fed will pull back on its rate hiking spree. e benchmark 10-year US Treasury yield, which briefly spiked to 4% and hit its highest level since 2008 last week, has since tumbled and is now back around 3.6%. While labour demand remains fairly strong, US job openings fell by the most in nearly 2-1/2 years, the first real sign that the Fed's actions have had an impact on the jobs market. But analysts were cautious as to whether the rally could be sustained. "It almost feels like a panic rally. e market mood got way too sour and people started to jump in," said Callie Cox, US investment analyst with eToro. "But this rally feels random. It's great to see stocks go up but these moves are a little disorienting. I'm being cau- tious." Shares in Twitter Inc. jumped nearly 13% on reports that Elon Musk is once again offering to buy the social media site for $44 billion, or $54.20 a share. Bond market starting to worry Wall Street Persistently high inflation, the Federal Reserve's tight- ening policy and record-breaking US debt have wreaked havoc on US Treasuries this year. Now, economists are noting a fundamental and worri- some imbalance in the bond market. ere are trillions of dollars worth of bonds for sale, they say, but a growing scarcity of buyers. If this trend persists, it could lead to credit problems and inhibit the US government's ability to fund itself. at's particularly concerning after Ameri- ca's national debt climbed north of $31 trillion for the first time on Monday. US bond prices rallied alongside equities this week as investors, spurred on by a loosening labor market, bet that the Federal Reserve could ease its aggressive rate hike policy earlier than expected. e upward swing brought some temporary relief to the bond market, which is in the midst of a historically awful year. But that relief may be short-lived. e US Treasury — backed by the US government and considered the safest of bonds — is experiencing what JPMorgan analysts de- scribe as a "structural absence of demand."