Corrective action at opening price
The main indices are opening to the downside after the recent rally. The declines are driven by the S&P index. The Dow Jones is down but improving slightly:
A snapshot of the levels a few minutes after opening shows:
- S&P Index -10.32 points or -0.33% to 3,112.75
- NASDAQ Index -19,419 points or -0.20 percent to 26,212.90
- Industrial Dow average -60 points or -0.22% to 26,211
In the US debt market, yields are generally higher with a steeper yield curve:
- 2 years 0.190%, unchanged
- 5 years 0.383%, +1.7 basis points
- 10 years 0.780%, +3.4 basis points
- 30 years 1568, +3 basis points
in other markets:
- spot gold rebounds after yesterday’s sharp drop. It is currently up $ 16.13 or 0.95% to $ 1,715.80.
- WTI Crude Oil Futures Trade Down $ 0.59 or -1.56% to $ 36.72
- EURUSD back to high after surprise ECB stimulus and Lagarde press conference
- The GBPUSD rose above its 100-day moving average to 1.2559 after the ECB decision, but has since dropped below that level. If the price goes up, you have to break above and stay above.
- The USDJPY is trading near the lowest levels of the day at 108,706 after hitting the highest level since April 7 earlier in the session. On Tuesday, the price exceeded the moving averages of 100 and 200 days. Those currently and around the 108.30 level. The current price is trading at 108,735. Stay above the moving average of 100 and 200 days and the bulls remain in control.