Market Wrap – SP500 ends up the day higher. Yields remain steady

April 4, 2018

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
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