The rotation continues
The rotation continues as yield move higher and traders exit tech stocks in favor of the major cyclicals of the Dow.
The snapshot of the market, shows:
- S&P index -20.73 points or -0.52% at 3953.39
- NASDAQ index -172 points or -1.27% at 13353.16
- Dow up 26.69 points or 0.08% at 33042.06
In other markets as stock trading gets underway:
- Spot gold is trading down $24 or -1.37% at $1721.80.
- Spot silver is down $0.37 or -1.42% $25.94
- WTI crude oil futures are trading down $1.75 or -2.71% $62.84
- bitcoin is trading up $214 or 0.37% of $57,963
in the Forex market, the USD has move to the strongest of the majors now as dollar buying has dominated early near trading. The CHF is the weakest.
In the US that market, the 10 year yield leads the way with a gain of 9.5 basis points at 1.738%. The 30 year yield is up 6.3 basis points at 2.481%
