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Wealth Daily 23 March 2022

WEALTH DAILY 2022-03-23
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Federal Reserve officials keep making more and more “hawkish” comments, but shares on Wall Street continue to rebound. US equities rallied for the fifth time in six sessions on Tue.

 The Dow Jones Industrial Average gained 254.47 pts, or 0.74%, to close at 34,807.46. The broader S&P 500 index rose 1.13%. The tech-heavy Nasdaq Composite advanced 1.95%. The small-cap Russell 2000 gained 1.08%.

Financials were among the best-performing stocks on the day as the 10-year Treasury yield climbed to its highest level since May 2019. The yield on the 10- year Treasury note notched up 9.28 basis points (bps) to 2.3825%.

Starbucks (SBUX US, +1.19%) staff at a Seattle location unanimously voted to unionize, a first in the company’s hometown.

The most actively traded US gold futures (Apr) contracts settled down $8.00, or 0.4%, at US$1,921.50/oz. May silver, which is the most actively traded silver futures, fell 40.9 cents, or 1.6%, to end at US$24.904/oz.

The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, was little changed at 98.493.

The front-month Brent and WTI futures closed down 14 cents at US$115.48/bbl and 36 cents at US$111.76/bbl respectively.

European equity markets finished higher on Tue. The UK FTSE gained 0.46%, France's CAC 40 rose 1.17%, while the German DAX advanced 1.02%.

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