The month of August saw the major US indices moving lower.
- Dow industrial average fell -4.07%
- S&P fell -4.,26%
- Nasdaq fell -4.64%
- Russell 2000 fell -2.24%
Adam points out that September is not historically good month either for US indices. Spetember over the last 20 years shows:
- Second worst month for the Nasdaq
- Worst month for the S&P 500
The month is getting off to a slow start with the major indices moving to the downside to start the trading day. A snapshot of the market 5 minutes into the open is showing:
- Dow industrial average -183.4 points or -0.58% at 31327.04
- S&P index -28.75 points or -0.73% at 3926.24
- NASDAQ index -131.14 points or -1.11% at 11685.06
- Russell 2000-24.85 points or -1.35% at 1819.26
In the US debt market, yields are higher:
- 2 year 3.503%, up 1 basis point
- 5 year 3.375%, up 1.9 basis points
- 10 year 3.249%, up 5.3 basis points
- 30 year 3.361%, up 6.7 basis points
In other markets:
- Spot gold is trading down $16 and back below the $1700 level at $1694.65. The price is trading at the lowest level since July 21. The low for the year reached $1680.20
- Spot silver is down $0.26 at $17.71. Silver is trading at its lowest level since July 2020
- Crude oil is trading at $87.42. That's down around $2.10 on the day. The low for the month of August reached $85.72. That was the lowest level since January 26, 2022.
- Bitcoin is back below the $20,000 level at $19,958. The low price reached $19,810. The low for the week reached $19,526 which was the lowest level since July 14. The low for the year reached down to $17,592 on June 18