Negative from the start

The major US indices never traded in the black today. The peaks for the S&P, Nasdaq and Dow were all below the closing levels for yesterday. The good news is each are off the lows for the day.

  • S&P index is closing at 2181.22 down -0.23% on the day. The low extended to 2177.49.
  • Nasdaq is closing at 5259.48 down -0.46% on the day. The low traded to 5248.414.
  • Dow is closing at 18478.64 down -0.26% on the day with the low down at 18446.69.

In the US debt market today, yields were sharply higher. This helped contribute to some of the dollar bullishness in trading.

  • 2 year note yield 0.7699%, +4 basis points
  • 5 year note yield 1.1801%, +6 basis points
  • 10 year note yield 1.6059%, +7 basis points
  • 30 year bond yield 2.311%, +8 basis points

In commodity markets:

  • crude oil futures were up sharply to $47.43, +4.22%. A larger drawdown in crude oil inventories contributed to the sharp gains
  • Gold $1341.70, -0.5%. The stronger dollar helped weaken the yellow metal.
  • Thomson Reuters/CRB index is trading up 1.73% on the day.