Modest gains after yesterday's sharp declines
The major US indices fell sharply yesterday with the NASDAQ leading the way to the downside (the index has been down six the last seven trading days). The NASDAQ fell by -2.14%. The S&P was down by -1.3% and the Dow shed -0.54%.
Today, in the first few minutes of trading, the major indices are trying to move higher. A snapshot of the market five minutes into the open is showing:
- Dow Jones +157 points or 0.46% at 34160.51
- S&P index up 19.17 points or 0.45% of 4318.49
- NASDAQ index up 70 points or 0.50% at 14330
In other markets as US equity trading gets underway shows:
- Spot gold down $50 or -0.85% at $1754.88
- Spot silver down $0.23 or -1.07% at $22.45
- WTI crude oil futures up $1.05 or 1.37% at $78.70
- The price of bitcoin is back above the $50,000 level at $50,050
In the Forex market, the USD has pushed ahead and is the strongest of the majors just ahead of the CAD. The JPY is the weakest.
In the US debt market, the yields are seeing more upside momentum with the 10 year up 2.4 basis points and is back above the 1.50% level. The low today reached 1.472%.
