Dow closed at a record level yesterday
The Dow closed higher yesterday. As a result, any positive gain today would make a new record high at the close.
The NASDAQ index and S&P index failed to make a new high yesterday. They fell by 11 and 6 points respectively. So if my math is correct (wink wink), gains of 11 points in the NASDAQ and 6 points in the S&P would be testing the record high closing levels from Friday (for what it's worth).
A couple minutes into the opening the snapshot of the major indices is showing:
- The Dow -6 points or -0.02% at 27687.40
- S&P index +3.86 points or 0.12% at 3090.87
- NASDAQ index +12 points or 0.14% at 8477.00
In the US debt market yields are marginally lower with the longer and leading the way to the downside. The 2 year to 10 year spread is narrowed by about 0.8 bps today.
- Spot gold is down $2.30 -0.16% at $1453.57
- WTI crude oil futures are trading up $0.31 or 0.55% at $57.18
- Most of the major currency pairs versus the US dollar are trading within 15 pips of the closing level from yesterday (EURSD -14 pips, GBPUSD -9 pips, USDJPY +4 pips, USDCHF +12 pips, USDCAD -6 pips). The exception is the NZDUSD which is trading down 30 pips currently on -0.47% at 0.6332. The inflation expectations index was lower than expectations and that pushed the pair to the downside in the Asian session
Price action in all markets may be limited this morning as traders wait for the Trump speech at the Economic Club of New York. That speech is scheduled to begin at 12 PM ET.
