Major indices give up gains. All trade lower on the day now

The major US indices have moved lower and into the red for the day, as the press conference progresses. The USD has moved higher and the yields have move higher. The US 10 year yield is now trading at 1.848%, up 6.3 basis points on the day. The 2 year is up a similar amount.

US yields

US yields are higher

A snapshot of the US stocks now shows:

  • Dow -189 points or -0.53% at 34119
  • S&P -14.21 points or -0.33% at 4340. 59
  • Nasdaq -33.61 points or -0.23% at 13505
  • Russell 2000 -17.9 point or -0.91% at 1987

Looking at the S&P, the price highs today did extend back above the 200 day MA, but that move is failing as the price moved back to the lows. The bears are still in control below the 200 day MA. The price moved below that MA on Friday last week, and has close below it for 3 straight days (today would be day 4).

S&P

PS. The selling is continuing. New lows for the major indices just reached:

  • Dow down -320 points
  • S&P -40.04 points
  • Nasdaq -117.70 points.

Price action is very volatile.

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