08.10. Rise in oil and U.S. yields, gains on Wall Street

News for today, October 8th:

Oil prices increased on Friday as a result of some industries’ decision to begin switching from high-priced gas to oil and of doubts whether the US government would free oil from its strategic reserves. Analysts believe that the rise in gas prices and the extent of the transition from gas to oil will be key factors to focus on in the near future. We remind you that earlier this week, the price of WTI crude oil reached an almost seven-year high of $ 79.78, and Brent crude was at a three-year high of $ 83.47.

Asian equities improved on Friday as Chinese markets are recovering and are expected to break through a four-week streak of losses. In the bond market, the US Senate's temporary government debt limit hike bill triggered a sell-off that saw US Treasury yields climb to their highest level since June ahead of key employment data.

Wall Street ended Thursday with a sharp increase as a truce in the debt-ceiling standoff in the U.S. Congress relieved concerns over a possible government debt default this month. Mega-cap stocks jumped, with Apple Inc (NASDAQ: AAPL) up 0.9% and Amazon.com Inc (NASDAQ: AMZN) up 1.2%, the biggest gains for the S&P 500 and Nasdaq. Tesla (NASDAQ: TSLA) and Google-parent Alphabet (NASDAQ: GOOGL) rose more than 1%.

The price of Brent crude is $ 82,96 per barrel, WTI — $ 79,31. EUR/USD is at 1.1547, GBP/USD —1.3592, gold is at $ 1,757.03 per ounce.