Rebounding off of lower levels in the 1st few minutes of trading.
The major US stock indices have open lower. However there is a initial rebound in the 1st few minutes of trading.
The snapshot of the major indices currently shows:
- the S&P index down 5.9 points or -0.19% at 3085.90. The low reached 3078.80
- The NASDAQ index -18.2-0.21% at 8469. The low reached 8451.34
- The Dow is down 18 points or -0.6% at 27674. The low reached 27587.20
Yesterday the Dow ended the day on changed which was equal to the all-time high close. The NASDAQ index closed at a new all time high. The S&P index was short by between 1 and 2 points of a record all time high.
In other markets, US yields remain lower and near the session lows. The 10 year yield is down -6.3 basis points. The 2 year yield is down -3 basis points. As a result the yield curve is flattening by about 3 or so basis points in trading today.
In other markets,
- spot gold is up $5.33 or 0.37% at $1461.60. The high price reached $1466.94. The low price extended to $1455.76
- WTI crude oil futures are up $0.19 or 0.32% at $56.98. The price is trading at the session highs. The low price reached $56.20. OPEC's Barkindo's comments that US shale production may not be as high as they expected seems to be pushing the price of crude oil higher.
In the forex, the NZD remains the runaway strongest currency of the day. The AUD, CAD and GBP are sharing the distinction of being the weakest.
