In the past few days, the Dow Industrial Average has moved higher while the S&P and NASDAQ indices have moved lower. Today, the roles have reversed, with the Dow trading lower and the S&P and NASDAQ trading higher.
The small-cap Russell 2000 is also slightly lower today after some profit-taking yesterday following a sharp rise over the past week.
The snapshot of the market five minutes into the open is showing:
- Dow industrial average -56.44 points or -0.14% at 41141.65
- S&P index +12.03 points or 0.22% at 5600.31
- NASDAQ index of 103.79 points or 0.58% at 18100.72.
The small-cap Russell 2000 is currently trading down -6.7 points or -0.30% at 2232.92.
US yields are trading higher after a modest dip following the move higher in the initial and continuing jobless claims (weaker employment)
- 2-year yield 4.450%, +2.1 basis points
- 5-year 4.101%, +3.2 basis points
- 10-year 4.184%, +3.9 basis points
- 30-year yield 4.402%, +4.4 basis points
The EURUSD has moved lower after the ECB kept rates unchanged, with Lagarde offering little information about a potential September decision. The price is currently trading within a swing area between 1.0908 and 1.0918. The 100-day moving average at 1.0908 will be a key indicator for both buyers and sellers. Moving below would be more bearish. On Tuesday, the price did move modestly below the MA, but momentum faded quickly and the price reversed to
This article was written by Greg Michalowski at www.forexlive.com. Source