Mixed start to the trading day. NASDAQ marginally lower.The US major indices are trading marginally higher to start the final day of the trading week which included a presidential election and Federal Reserve interest rate cut.
The markets are cheering the Pres. Trump victory with solid gains this week. There may be a little slowing today, but still it is not a bad day.
- Dow industrial average up 85.10 points or 0.19% at 43814.44
- S&P index up 8.02 points or 0.13% at 5981.12
- NASDAQ index is now trading down -15.88 points or -0.08% at 19253.57
THe small cap Russell 2000 is up 5.14 points or 0.22% at 2387.83
For the trading week, the gains were led by the Russell 2000 and the Nasdaq index (working on a 3 day win streak)
- Dow industrial average is up 4.24%
- S&P index is up 4.47%
- NASDAQ index is up 5.67%
- Russell 2000 is up 7.97%
The US yields are lower today and ironically the 10 year yield is down for the trading week.
- 2-year yield 4.218%, -0.2 basis points
- 5-year yield 4.166%, -2.4 basis points
- 10-year yield 4.300%, -4.3 basis points
- 30-year yield 4.487%, -5.6 basis points
A week ago, the 10-year yield closed at 4.38%. The two-year yield is unchanged on the week at 4.21%
Looking at other markets:
- Crude oil is trading down $-1.48 and $70.90. For the week the price is up around $2.40
- Gold is trading down $17 or -0.64% at $2689.07. That is down from a closing level last week at $2735.80
- Bitcoin is trading at $75,811. Last week, the digital currency closed at $68,738. The digital currency market expect Pres. Trump to be a proponent of Bitcoin (and other digital currencies).
This article was written by Greg Michalowski at www.forexlive.com.
Source: Mixed start to the trading day. NASDAQ marginally lower. (https://www.forexlive.com/news/mixed-start-to-the-trading-day-nasdaq-marginally-lower-20241108/)
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