U.S. Stock Market: On October 16, the U.S. stock market rallied, with the Dow Jones Industrial Average reaching a new all-time high. The surge reversed the previous day's losses, driven by positive corporate earnings and a drop in crude oil prices. However, investor caution remained as they awaited key economic data set to be released soon.

• S&P 500: Rose 0.47%, closing at 5,842.47 points.

• Nasdaq: Gained 0.28%, ending at 18,367.08 points.

• Dow Jones: Increased by 337.28 points, or 0.79%, closing at 43,077.7 points.

  
  

U.S. Treasury Yields: The 10-year Treasury yield fell significantly, closing at 4.016% on October 16, signaling cautious optimism in the bond market.

Dollar Index: The U.S. Dollar Index climbed to 103.52, marking an 11-week high. The rise came as investors scaled back expectations for aggressive rate cuts by the Federal Reserve at the next policy meeting.

Gold Market: Gold prices continued to rise, supported by falling bond yields and increasing expectations of central bank rate cuts. Safe-haven demand also played a role, spurred by ongoing geopolitical concerns. Spot gold increased by $13, reaching $2,675.2 per ounce, while gold futures rose $11.4, settling at $2,690.3 per ounce.

Commodity Market Overview: Oil prices remained under pressure, marking their third consecutive decline this week. Brent crude edged down by 3 cents to $74.22 per barrel, while WTI fell 19 cents (0.3%) to $70.39 per barrel.

• Silver: December 2024 futures closed at $31.974 per troy ounce, up 0.7%.

• Platinum: Increased by 0.6%, ending at $1,002.6 per troy ounce.

• Copper: December 2024 contracts rose 0.7%, settling at $4.3675 per pound.

Source: Compiled Data