A snapshot of the markets
The US major stock indices are officially open, and the major indices are giving back a piece of the oversized gains in volatile early trading.
A snapshot of the market a few minutes into the opening shows:
- S&P index, -33 points or -1.35% at 2434.39
- NASDAQ index -93.8 points or -1.43% at 6460
- Dow industrial average -345 points or -1.5% at 22533
IN other markets:
- spot gold is up $8.65 or 0.68% at $1275.78
- WTI crude oil futures are down $.73 or -1.58% at $45.49
In the US debt market:
- two-year 2.572%, -4.2 basis points
- five-year 2.616%, -3.1 basis points
- 10 year 2.750%, -5.7 basis points
- 30 year 3.007%, -5.7 basis points
Stock markets will likely remain volatile as year end flows can be a big influence. There is the end of year portfolio rebalancing which can exasperate price action. On top of that this year are year end selling for tax purposes. With the major indices lower and some stocks down a lot, traders and funds will look to sell the losers and take a capital loss against prior gains.
