The US PPI and preliminary jobless claims have been stronger than expectations. Retail gross sales have been weaker however markets are extra centered on the upper inflation/stronger job progress. US charges are transferring increased with the 2-year now up 5.7 foundation factors and the ten yr yield up 6.3 foundation factors.
All that has US shares modestly increased however off their pre-market excessive ranges.
A snapshot of the market at the moment reveals:
- Dow industrial common up 55.25 factors or 0.14% at 39098.58
- S&P index up 7.41 factors or 0.14% at 5172.71
- NASDAQ index of 37.72 factors or 0.23% at 16215.49
The S&P all-time excessive closing degree reached on Tuesday is at 5176.50. The NASDAQ excessive closing degree is at 16274.94.
Trying on the US debt market, yields are transferring increased:
- 2-year yield 4.680% +5.7 foundation factors
- 5-year yield 4.262% +7.6 foundation factors
- 10 yr yield 4.254% +6.3 foundation factors
- 30-year yield 4.396% +4.7 foundation factors
In different markets:
- crude oil is up 90% or 1.14% at $80.64. The excessive reached $80.77 reaching the best degree again in November 2023.
- Gold is down -$11.12 or -0.51% at $2163.15
- Bitcoin is decrease at $71,948
The EURUSD is buying and selling to new session lows and appears towards its 200 hour MA at 1.09089.
The USDJPY traded to a brand new excessive within the present hourly bar however nonetheless must get above the 38.2% of the transfer down from the Feb excessive at 148.157.
