With the US stocks now 15 minutes into the new trading day, the major indices are mixed. The Dow industrial average is marginally lower. The S&P is near unchanged and the NASDAQ index is marginally higher.

A snapshot of the market currently shows:

  • Dow industrial average -27.05 points or -0.08% at 33637.98
  • S&P index -1.80 points or -0.04% at 4265.741
  • NASDAQ index of 27.68 points or 0.21% at 13132.57

Looking at the small-cap Russell 2000 which has been outperforming over the last few trading days, it is underperforming today with a decline of -9.84 points or -0.52% at 1878.56.

In the US debt market, yields are moving lower after the initial jobless claims moved to 20 month highs (weaker jobs). Is it the start of job weakness? Last Friday, the unemployment rate moved up to 3.7% from 3.4%, but job gains were still solid with a gain of 339K (were expecting 193K).

  • 2 year yield 4.485% -6.7 basis points
  • 5 year yield 3.865% -5.5 basis points
  • 10 year yield 3.750% -3.3 basis points
  • 30 year yield 3.931% -1.1 basis points

in other markets:

  • Crude oil is trading unchanged at $72.52
  • Gold is trading up $24.69 or 1.3% at $1965 as it reacts to lower rates
  • Silver is trading up $0.74 or 3.18% at $24.13.
  • Bitcoin is trading at $26,406

The USD is moving lower (and is the weakest of the major currencies ) with new session lows being reached versus the EUR, GBP, JPY, CHF, AUD all being reached in the current hourly bar. The CHF is the strongest of the major currencies as it reacted not only to the jobless claims data but also hawkish comments from SNBs Jordan.

Forex
The strongest to weakest of the major currencies