On Wednesday, the U.S. Treasury announced it would at least double the scale of its long-term Treasury repurchase operations. Following the announcement, the U.S. Dollar Index plummeted, falling below the 99 mark for the first time since June and ultimately closing down 0.85% at 98.78;The benchmark 10-year U.S. Treasury yield closed at 4.651%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.171%.
Spot gold broke through the 4,500 psychological barrier, surging more than $180 intraday to hit its highest level since early June, and ultimately closed up 4.35% at $4,523.03 per ounce;Spot silver ultimately closed up 5.8% at $67.01 per ounce.
Driven by news of the ongoing standoff in the Strait of Hormuz and the U.S. military’s secret opening of a shipping lane, the market is weighing the direction of oil prices.WTI crude traded sideways before closing up 0.08% at $84.23 per barrel; Brent crude closed up 0.1% at $91.45 per barrel.
The Dow Jones Industrial Average closed up 0.22%,the S&P 500 gained 0.21%, and the Nasdaq rose 0.16%. Moderna (MRNA.O) surged 176.9%, and Merck (MRK.N) rose 12.6%. Marvell Technology (MRVL.O) gained over 9.8%,SK Hynix (SKHY.O) rose 0.35%, SanDisk (SNDK.O) fell 3.5%, and Micron Technology (MU.O) fell 0.39%. The Nasdaq China Golden Dragon Index closed up 1.5%.