Yesterday the US stocks moved higher for the second consecutive day which came after four straight days of declines. The final numbers showed:
- S&P closed up 56.84 points or 1.49% at 3878.45
- Nasdaq closed up 162.27 or 1.54% at 10709.38
- Dow closes up 526.74 points or 1.60% at 33376.49
Today those gains are being retraced. The snapshot of the market currently shows:
- S&P index down -43.10 or -1.12% at 3835.15
- NASDAQ index down -168.2 or 1.57% at 10541
- Dow Industrial Average -300.0 or -0.90% at 33072
- the Russell 2000 is down -21.47 points or -1.21% at 1755.40
US GDP came in stronger than expectations with higher inflation readings. Initial jobless claims remained fairly steady indicative of a strong jobs market.
US yields are higher with the shorter end leading the way:
- two year 4.265%, +5.0 basis points
- five year 3.795% +1.9 basis points
- 10 year 3.686%, unchanged
- 30 year 3.753% +1.0 basis points
This article was originally published by Forexlive.com. Read the original article here.