Strong market wraps on Friday, Dow and S&P on new record high
NASDAQ Composite Index was able to pull back some gains and set a 2nd week of market value increase.
The Futures of the major indexes remains strong with all above the green line. Stock futures will resume trade on Sunday evening. Here’s a rundown of the market’s key movements:
Stocks:
• The Dow Jones Industrial Average gained 0.88% or 297.33 basis points and closed at 33,801
• S&P 500 Index rallied 0.77% or 31.83 basis points and ended with 4,129
• NASDAQ Composite Index lagged behind the two but eked out 0.51% or 70.88 basis points to close with 13,900
Yields continue to go up as the fear of sudden inflation was washed away by Fed Chief Powell’s reassuring words that they will control the prices with the help of the central bank. Investors are then moved, switch back to tech stocks, leaving the yields on an upward trend.
Bonds:
• The U.S. 2 Year Treasury yields went up by 0.004 basis points or 2.76% and at 0.153
• The U.S. 10 Year Treasury yields moved forward by 0.52 basis points or 3.2% and ended 1.66
• The U.S. 30 Year Treasury yields gained 0.35 basis points or 1.52% closing 2.335
• Canada’s 10 Year Bond yields up by 0.035 basis points closing at 1.498
• Germany’s 10-year Bond yields rose 0.037 basis points or 10.99 percent and ended with -0.298
• Spain’s 10 Year Bond yields moved ahead by 0.44 basis points or 12.80% and wrapped at 0.383
Oil prices continue the downward spiral and is expected to stay that way unless something big happens due to the
pandemic greatly limiting demand for crude oil.
• Western Texas Intermediate crude dropped 0.47% in price and ended at $59.32 per barrel
• Brent crude slumped 0.40% and closed $62.95 per barrel
• Gold lost 0.62% in value, ending with $1,744.02 an ounce
• Silver dipped $0.18 in price at $25.26
Currencies:
• European Euro went up by 0.0357% at 0.8403
• Japanese Yen remained flat
• British Pound lost 0.0146% at 1.3706
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