Yesterday the US stocks moved higher for the second consecutive day which came after four straight days of declines. The final numbers showed:

  • S&P closed up 56.84 points or 1.49% at 3878.45
  • Nasdaq closed up 162.27 or 1.54% at 10709.38
  • Dow closes up 526.74 points or 1.60% at 33376.49

Today those gains are being retraced. The snapshot of the market currently shows:

  • S&P index down -43.10 or -1.12% at 3835.15
  • NASDAQ index down -168.2 or 1.57% at 10541
  • Dow Industrial Average -300.0 or -0.90% at 33072
  • the Russell 2000 is down -21.47 points or -1.21% at 1755.40

US GDP came in stronger than expectations with higher inflation readings. Initial jobless claims remained fairly steady indicative of a strong jobs market.

US yields are higher with the shorter end leading the way:

  • two year 4.265%, +5.0 basis points
  • five year 3.795% +1.9 basis points
  • 10 year 3.686%, unchanged
  • 30 year 3.753% +1.0 basis points