STATE OF THE MARKETS

Stocks in green amid stronger NFP. US stocks continue their upward trajectory, with Dow (+0.29%), Nasdaq (+0.07%) and S&P (+0.09%) including Russell (+0.23%) closed in green on Monday after stronger than expected NFP last Friday. Dollar spiked past 94.50 minor handle, but retreated and trending lower, below the 94 handle at writing as yields eased with the 10Y at 1.47%

In the commodities market, crude pared earlier losses as OPEC+ reported a stable global demand outlook in its recent meeting. The black gold settled around $81.80/bl as New York closed. Gold surged past $1,820/oz as inflation concerns remain with rising labor costs. Elsewhere, iron ore was little changed around $96.20/tn since last Friday, even though the $1.5 trillion US infrastructure bill was passed on the weekend.

In the FX space, King Dollar lost bids across the board in the last demand territories seen in medium term accounts as Yen seized the reigns alongside Swiss and Euro. Short term traders seemed aggressive as Kiwi and Sterling were flipped to demand overnight. Long term sentiments improved as demand for Swiss and Dollar eased further. Markets look at earnings reports from ADT Corp (ADT), Sysco Corp (SYY), Westrock (WRK) and Wynn Resorts (WYNN) on Tuesday, on top of Producer Price Index to gauge inflation.