Bond yields are lower. Crude oil looking toward $50
Amazon earning came in weaker than expected last night, and the high flyers is down -33 points on the day. Of course, Amazon makes it a habit to have less than expected earnings. It is still above the 1000 per share level at 1012 currently, but at any time now the sentiment can change on this one. The problem is dips tend not to last long. A move below $1000 might raise some eyebrows.
Amazon's earnings and the failure to pass the healthcare "skinny repeal bill" put the stocks on the defensive (you can add the turmoil in the Trump team as well). It is so hard to ignore the Washington saga, but it does tend to get over it.
The Nasdaq has been the big decliner. It is down -29 points or -0.45% currently at 6354. The low reached 6337. The high 6370.
The S&P is down about -9 points or -0.35% at 2466.68. The low reached 2465.98. The high 2471.62. We are trading near the lows.
The Dow is down 18 point or -0.08%.
In the US debt market, the yield have dipped to the negative side with the 10 year down 0.5 bp. Still not a lot of activity.
Spot gold is up about $7 or +0.56%
WTI crude is seeing renewed buying ant trades at $49.66. The high reached $49.76. Looking toward the key $50 level
