US stocks inked yet another set of records as the positive sentiment in markets continues, albeit with meagre gains on Monday. The DOW led, up 0.29% while the S&P and the NASDAQ rose 0.09% and 0.07% respectively. Yield on 10Y USTs closed higher at 1.4897%.
German industrial production contracted in September as supply chain bottlenecks continue to weigh on production; the forecast had been for a 1% gain following August’s 3.5% slump. Exports also slumped in September against an expected 0.5% gain, although this was slightly balanced by slower imports to push the trade balance to €13.2 billion, slightly higher than August’s €13.0 billion. Yield on 10Y DBRs closed higher at -0.243% while the euro was slightly firmer at $1.1587.
Asia stocks traded mostly lower on Tuesday with the NIKKEI leading losses, 0.75% lower. The ASX also closed weaker, down 0.24% as did the HANG SENG at 0.03% weaker. The CSI managed a gain however, closing 0.20% up.
The Russian stock market completed trading in the green along with oil. The Moscow Exchange index grew by 1.04% while the RTS index increased by 0.94%. Gains were led by Tatneft (MCX: TATN), Surgutneftegaz (MCX: SNGS), Rosneft (MCX: ROSN).
Oil eked out a gain on Monday as Saudi Arabia is raising prices, but the rally cooled after the U.S. signaled measures to ease oil and gasoline prices. WTI rose 0.8% to $81.93 per barrel while Brent gained 0.8% to $83.43.