But anything can happen

The last hour of trading has been very volatile. Over the last 10 days, the average move is 1.1%.

Currently, with an hour to go, the:

  • S&P index is up 76.72 points or 2.79% at 2823.28
  • NASDAQ index is up 239.16 points or 3.01% at 8189.84
  • the Dow industrial average is up 616.47 points or 2.58% at 24467.49

in other markets

  • gold is trading near low levels at $1653.53. The low for the day came in at $1649.48. The high for the day reached $1680.75
  • WTI crude oil futures moved up over $35.02 since the settlement at 2:30 PM ET. We are currently trading at $34.48 that's up $3.35 or 10.76%

In the US debt market:

  • 2 year is at 0.4807%, up 9.9 basis points
  • 10 year is at 0.7587%, up 2.1 basis points
  • 30 year is up 1.242%, +24.7 basis points

The US yield got a boost after a very sloppy 3 year auction which is all a 2.7 basis point tail and the dealers saddled with 44% of the auction.