Third day as trading session wraps slightly higher on stock markets roller coaster
Tech stocks outperformed pulling NASDAQ ahead of the other 2, while investors continue to contemplate if the inflation will be able to curb the rebound from the increase in economic activity from pandemic recovery.
The data presented last Tuesday about consumer confidence dropping last April even after most of the pandemic standards are being pulled back is also affecting the movement in the market. FOMC continues to be firm that such inflation is short-term and does not require policy updates as of the moment. They also mentioned that it will definitely be part of the upcoming meetings but implementation will depend of the flow of data.
Stocks continue to trade in a choppy market with a mixture of ups and downs. Traders are given a heads up that these inflationary pressure and price increase signals are just part of the economic recovery.
Stocks:
• The Dow Jones Industrial Average slightly higher at 34,323.05 with an increase of 10.59 points or 0.03%.
• NASDAQ Composite Index jumped 80.82 points or 0.59% and ended 13,738.00.
• The S&P 500 Index was little changed at 4,195.99 gaining 7.86 points or 0.19%.
• Japan’s Nikkei 225 gained by 1.97% or 562.57 points and closed to 29,111.36.
• Hong Kong’s Han Sen stepped up at 29,251.12 points or 0.57% gain.
Bonds:
• U.S. 2 Year Treasury yield increased by 0.006 basis points or 3.97% and closed at 0.154.
• U.S. 5 Year Treasury yield went down by 0.006 basis points or 0.79% at 0.820.
• U.S. 10 Year Treasury yield gained 0.007 basis points or 0.43% and ended 1.613.
Crude went up a few while metal went down under commodities. Below is the current movement.
Commodities:
• Gold down to $1,896.00 per ounce after losing $2.00 or 0.11%
• Silver currently at $27.98 per ounce with a 1.05% gain or $0.29.
• Western Texas Intermediate Crude climbed 0.51% and now at $67.19 per barrel.
• Brent crude at $69.64 per barrel after jumping by 0.26%.
Here is the Currency exchange looks like this on Wednesday:
• U.S. Dollar Index up by 0.12% at 90.08.
• Euro down by 0.08% closing 1.21828 vs USD.
• Yen increased by 0.04% at 109.877 against USD.
• British Pound down by 0.08% at 1.4188 versus USD.
• Canadian Dollars gained 0.12% at 1.20822 vs USD.
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