S&P lower after record close yesterday
The S&P, Dow and Russell 2000 will close a record level yesterday. The NASDAQ continues to lag.
Today, the NASDAQ is getting hit hard once again as interest rates continued their run to the upside. The 10 year yield is now up 8.2 basis points and the 30 years is up 8.6 basis points. That it is leading to valuation adjustments in the high flying tech sector. The Dow 30 cyclicals stocks are doing better with a modest gain.
The snapshot of the market segments at the opening is showing:
- S&P index, -22.39 points or -0.57% at 3916.95
- NASDAQ index -228.29 points or -1.7% at 13170.37
- Dow up 45.25 points or +0.14% at 32530.84
looking at other markets:
- Spot gold is down $20.40 or -1.18% $1702.20
- Spot silver is down $0.65 or -2.5% at $25.46
- WTI crude oil futures are down $0.30 among 0.45% $65.73
- Bitcoin is down $1700 or -2.95% of $55,890
in the US that market:
- two year yield 0.159%, +2.0 basis points
- five year yield 0.846%, +6.0 basis points
- 10 year yield 1.617%, 8.0 basis points
- 30 year 2.380%, +8.6 basis points
The USD is higher but the CAD has taken over as the strongest of the major currencies after their strong jobs report this morning. The NZD and GBP are the weakest.
