Expect a volatile day folks
The US stock is opening lower. No surprise there. However, the first move is a rebound. Does it continue? Who knows but the market will likely be cautious with a downside bias as the implications of the tariffs are still unknown (and therefore negative).
- The S&P indexes down -15.6 points or -0.60% at 2661
- The NASDAQ composite index is down - 61 points or -0.88% at 7116
- The Dow industrial average is down 281 points or -1.15% at 24321
In the US that market yields are now higher (after being near unchanged in early trading).
- 2 year 2.23%, +1.8 basis points
- 5 year 2.60%, +2.3 basis points
- 10 year 2.84%, +3.0 basis points
- 30 year 3.12%, +3.6 basis points
Spot gold is trading up $5.80 or 0.44% at $1322.70
WTI crude oil futures are trading down $.43 or -0.71% at $60.55
The price of bitcoin on the Coinbase exchange is trading down -$97 at $10,819. The high price reached $11,149 and the low fell to $10,748. The price remains above its 100 hour moving average at $10,591. The 200 hour moving averages at $10,227. A move below both those moving averages will be needed to turn the bias more to the downside.
