In a unique trading session characterized by shortened hours, US government bond yields experienced a decline while crude oil futures saw a rise. The 10-year Treasury yield fell by 3.6 basis points, reaching 4.66%, pulling back from levels not seen since late April earlier this week. Meanwhile, the two-year yield also decreased by 3.1 basis points to settle at 4.26%.
As part of a National Day of Mourning for former US President Jimmy Carter, major US exchanges, such as the New York Stock Exchange and Nasdaq 100, halted the trading of equities and options. In contrast, the bond market operated on a reduced schedule, closing at 2 PM ET, with Forex trading remaining unaffected and metals and energy commodities maintaining their regular schedules. Meanwhile, crude oil futures for West Texas Intermediate demonstrated an increase of 1%, priced now at $74.03 a barrel, reflecting ongoing shifts in the energy market. In the realm of economic indicators, the Philadelphia Federal Reserve's manufacturing index for December was adjusted from minus 16.4 to minus 10.9, showing a slight improvement following a revision to minus 4.4 in November.
Upcoming data releases will provide further insights, as the January Philadelphia Fed manufacturing index is scheduled for January 16. In corporate news, discussions are underway involving the Dutch government, Nvidia, and Advanced Micro Devices regarding the establishment of an artificial intelligence facility in the Netherlands.
This strategic move highlights the growing interest in AI technology within Europe. Additionally, Super Micro Computer has announced the commencement of volume shipments of its new high-performance servers, which are equipped with Intel's Xeon 6900 series processors, marking a significant advancement in server technology and computing power..