USD/JPY has dipped down to 101.22 from 101.40 as stocks in the states open up in the red and bond yields fall.
- S&P -5 pts to 1880
- Dow -53 pts to 16458
- Nasdaq -18 pts to 4107
US 10 year yields get you 2.53% -2bp from a high of 2.55%
101.10 is the first big level to watch if we go there and then 101 and 100.75.
The falls in stocks comes despite a fairly decent earnings report from Home Depot which reported a 2.9% increase in sales from a year ago. Q1 comparable store sales posted a 2.6% gain. EPS came in at $1 vs $0.99 exp on Q1 net earnings of $1.4bn
