Relatively modest declines to start the week
The major indices are opening with relatively modest declines across the board. The hedge fund margin selling is rippling through the market and has increased concerns about a potential domino effect.
A snapshot of the major indices currently shows:
- S&P index -10.3 points or -0.25% at 3964.60
- NASDAQ index -39 points or -0.30% at 13102
- Dow -57 points or -0.16% at 33018
in other markets:
- Gold is trading down $12.45 or -0.72% at 1720.50
- Silver is trading down $0.25 or -1% at $24.82
- WTI crude oil futures are trading down $0.73 or -1.2% at $60
- Bitcoin is trading up $3200 or 5.93% of $58,097
In the US debt market yields are modestly lower across the board:
- 2 year 0.134%, -0.3 basis points
- 5 year 0.857%, -0.8 basis points
- 10 year 1.672%, -0.3 basis points
- 30 year 2.37%, -0.6 basis points
In the Forex, the GBP remains the strongest of the majors but off highs and the CAD is now the weakest. The major currencies are all scrunched together now.
