Give up premarket gains after Beijing comments

The major US indices were higher earlier in the premarket trading, but lost momentum after Beijing comments soured the trade negotiation hopes.

A snapshot of the markets currently shows:

  • S&P index 4.6 points or -0.15% at 3115.40
  • NASDAQ index -23 points or -0.27% at 8516.8
  • Dow up 7 points or 0.03% at 28011

All 3 of the major indices closed at record levels (and at all time high levels) on Friday. As a result, any gain today would be an all-time record high once again.

In the US debt market yields have reversed back to the downside on the China news. A snapshot of the current yields shows the 2 year down -2.2 basis points and the 10 year down -2.7 basis points.

US yields are lower by around 2 to 3 basis points
  • Spot gold is up $2.80 or 0.18% at $1471
  • WTI crude oil futures are down $0.47 or -0.83% at $57.25