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 43814.44S&P index up 8.02 points or 0.13% at 5981.12NASDAQ 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 points5-year yield 4.166%, -2.4 basis points10-year yield 4.300%, -4.3 basis points30-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 $2.40Gold is trading down $17 or -0.64% at $2689.07. That is down from a closing level last week at $2735.80Bitcoin 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.
