S&P index also higher
The comments from Feds Kashkari and Bullard, seem to have given the stock market a boost. . The 10 and 30 year yield are in the red now with the 10 year down -0.5 basis points and the 30 year down -3.6 basis points.
The major indices currently show:
- S&P index up 18.48 points or 0.49% at 3786.88
- NASDAQ index still remains lower on the day by 2-29 points or -0.24% at 12693
- Dow is up 200 points or 0.65% have 31128
For the NASDAQ index it has moved back above its 100 day moving average at 12626 area. The index has not closed below its 100 day moving average since May 2020. Both yesterday and again today, the price has dipped below that level.
Markets remain very volatile. It’s Friday and next week focus will return to the debt market with the treasury schedule to auction off 3 year, 10 year, and 30 year notes and bonds. The NASDAQ index has been particularly sensitive to interest rates as traders ponder repricing given higher rates.