Major indices try to rebound in early US trading

Modest gains after yesterday’s sharp declines

The major US indices fell sharply yesterday with the NASDAQ leading the way to the downside (the index has been down six the last seven trading days).  The NASDAQ fell by -2.14%. The S&P was down by -1.3% and the Dow shed -0.54%.

Today, in the first few minutes of trading, the major indices are trying to move higher. A snapshot of the market five minutes into the open is showing:

  • Dow Jones +157 points or 0.46% at 34160.51
  • S&P index up 19.17 points or 0.45% of 4318.49
  • NASDAQ index up 70 points or 0.50% at 14330

In other markets as US equity trading gets underway shows:

  • Spot gold down $50 or -0.85% at $1754.88
  • Spot silver down $0.23 or -1.07% at $22.45
  • WTI crude oil futures up $1.05 or 1.37% at $78.70
  • The price of bitcoin is back above the $50,000 level at $50,050

In the Forex market, the USD has pushed ahead and is the strongest of the majors just ahead of the CAD. The JPY is the weakest. 

In the US debt market, the yields are seeing more upside momentum with the 10 year up 2.4 basis points and is back above the 1.50% level. The low today reached 1.472%.

  

The US yields are higher

Invest in yourself. See our forex education hub.

Technical Analysis

Articles You May Like

Pound Gains on Hawkish BoE Remarks; Euro Regains Lost Ground
Japan finance minister Suzuki says fiscal discipline important
Dow Jones Industrial Average sheds 30 points on thin Monday after early pop fizzles
Wholesale prices rose 0.2% in June, slightly hotter than expected
Dollar Softens Post-PPI Release, Yet Selling Momentum Remains Limited

Leave a Reply

Your email address will not be published. Required fields are marked *