The major US stock indices are mixed in early US trading. The Dow is higher. The S&P is modestly lower, and the NASDAQ index is leading the way to the downside.
A snapshot of the market 16 minutes into the US open is showing:
- Dow Industrial Average up 79.35 points or 0.24% at 33481.74
- S&P index down -5.82 points or -0.14% at 4094.79
- NASDAQ index -70.73 points or -0.58% at 12055.60
- Russell 2000 down -11.87 points or -0.67% at 1757.77
US yields are trading lower.
- Two year yield 3.744%, -8.9 basis points
- five year yield 3.338% -4.9 basis points
- 10 year yield 3.316% -1.9 basis points
- 30 year yield 3.594% unchanged
Looking at the 10 year yield chart below, the low yield today reached 3.292%. That was just above the swing low yield for 2023 at 3.287%. There have been a number of swing lows in the 10 year yield between 3.287 and 3.334%. Breaking below would tilt the bias more to the downside with the 38.2% retracement at 3.189% the next downside target.
US 10 year yield tests lows from 2023
