Investment Daily: US stocks and Treasuries rose as oil prices retreated
10 July 2026
Key takeaways
-
US stocks and Treasuries rose.
-
European stocks and government bonds rose.
-
Asian stocks fluctuated and traded mixed.
Markets
US stocks rose on Thursday amid gains in AI-related stocks and a decline in oil prices, with geopolitical developments in the Middle East and corporate earnings remaining in focus. The S&P 500 closed 0.8% higher.
US Treasuries rose amid lower oil prices and a solid 30-year Treasury debt auction. 10-year yields fell 3bp to 4.55%.
European stocks rebounded on Thursday as oil prices retreated. The Euro Stoxx 50 gained 1.3%. The German DAX and the French CAC both rose 0.9%. Bucking the regional trend, the UK FTSE 100 lost 0.2%.
European government bonds rose. 10-year German bund yields edged down 1bp to 3.08% and 10-year French bond yields fell 8bp to 3.85%. In the UK, 10-year gilt yields fell 7bp to 4.90%.
Asian stock markets fluctuated and traded mixed on Thursday, as investors continued to assess the geopolitical situation in the Middle East and sustainability of the AI tech-related trade. Korea’s Kospi rose 0.6% while Japan’s Nikkei 225 gained 1.4%. Elsewhere, China’s Shanghai Composite rallied 1.7% while Hong Kong’s Hang Seng fell 0.7% after Wednesday’s rally. India’s Sensex closed 0.3% higher.
Crude oil prices pulled back on Thursday following recent gains. WTI for August delivery fell 2.0% to USD72.1 a barrel.
Key Data Releases and Events
Releases yesterday
The Bank of Japan (BoJ) raised its policy rate by 25bp to 1.00%, as widely expected, and decided to halt the reduction in JGB purchases from April 2027. The BoJ highlighted the risk of underlying CPI inflation deviating upward above 2%.
The Reserve Bank of Australia (RBA) kept its policy rate unchanged at 4.35%, as widely anticipated. Governor Bullock noted upside risks to inflation and did not rule out further tightening.
In China, May activity indicators continued to reflect a two-speed economy. Industrial production showed resilience, up 4.5% YOY, driven mainly by gains in high-tech manufacturing and new energy sectors thanks to robust exports. However, non-tech domestic demand was softer than expected as the property sector remained under pressure. Retail sales fell 0.6% YOY, partly reflecting an unfavourable base effect from last year’s trade-in subsidies. Fixed asset investment contracted by 4.1% YOY in the first five months, despite strong advanced manufacturing investment.
Releases due today (10 July 2026)
No major releases.
Explore ways to invest
Related Insights
Disclaimer
We’re not trying to sell you any products or services, we’re just sharing information. This information isn’t tailored for you. It’s important you consider a range of factors when making investment decisions, and if you need help, speak to a financial adviser.
As with all investments, historical data shouldn’t be taken as an indication of future performance. We can’t be held responsible for any financial decisions you make because of this information. Investing comes with risks, and there’s a chance you might not get back as much as you put in.
This document provides you with information about markets or economic events. We use publicly available information, which we believe is reliable but we haven’t verified the information so we can’t guarantee its accuracy.
This document belongs to HSBC. You shouldn’t copy, store or share any information in it unless you have written permission from us.
We’ll never share this document in a country where it’s illegal.
This document is prepared by, or on behalf of, HSBC UK Bank Plc, which is owned by HSBC Holdings plc. HSBC’s corporate address is 1 Centenary Square, Birmingham BI IHQ United Kingdom. HSBC UK is governed by the laws of England and Wales. We’re authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Our firm reference number is 765112 and our company registration number is 9928412.