The major US indices are trading above and below unchanged in early US trading. Traders are pondering the economy and the Fed. Fed's Goolsbee (new Chicago Fed Pres.) is more on the dovish side, but Fed Waller is saying the inflation remains a problem and more rate hikes are needed (as in "more than one"). HMMMM.
The two-year note yield is up around 11 basis points. The 10 year note yield is up about five basis points.
The USD has moved higher.
A snapshot of the market 15 minutes into the open and showing:
- Dow industrial average up 31.25 points or 0.09% at 34060.95. The Dow traded down -52.37 points at the session was
- S&P index is up 10.73 points or 0.26% at 4156.94. The S&P traded down -7.41 points at session lows
- NASDAQ index is up 11.75 points or 0.10% at 12178.02. The NASDAQ index traded as low as -58 points in early trading
In other markets:
- Gold has retreated and trades down $-15.29 or -0.75% at $2024.50 as it reacts to the higher dollar/higher rates
- Silver is still up 5.2 cents or 0.21% or $25.87, but off the high price of $26.08
- WTI crude oil is up $0.71 at $82.87. It's 200 day moving average is at $83.53. The high price today reached $83.02 so far