By Taylor Wilman
In the US markets today, stocks did the opposite of what may have been expected. After a gap down opening, the S&P 500 ended the day greater than 1% higher. The early session sentiment was under pressure due to Chinese retaliation tariffs on the United States being announced.
Technically, the 200-day moving average and 257 level on the spy etf held their ground for a second day.
Eurodollar Futures continued on their path lower and trading right around the 97.70 level.
The US 2 year treasury yield experienced a minor bump up today. It resides near its cycle highs around 2.30.
5 year yield and the 10-year yield were virtually unchanged today at the present levels of 2.61 and 2.79, respectively. The 30-year yield rose back over the 3.00 level today after reaching a low last week around 2.97 threshold.
Crude oil and the dollar both saw a slight edge lower today with crude to the $63.52 level and the dollar index trading at 90.15.
The VIX softened with a dip of 1% to the 20.20 level.
Gold prices made a slight bump higher today while silver fell half a percent to the 16.30 level.
Market update by Taylor Wilman
