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US Market Update 09 May 2018

Posted by Tim Sholl on 10-May-2018 01:20:09

Since the US announced that they had decided to leave the Iran nuclear deal and begin to introduce sanctions against Iran , we have seen the US Dollar move higher , we have seen US stock indices continue to move higher , we have seen US bond yields move higher and we have seen the price of crude Oil move higher.

Latest prices show the Dow at 24326 down 30 , the S&P500 at 2673 up 2 and the Nasdaq 100 at 6810 down 3.  The EUR is at 1.1856 down 7 , the GBP is at 1.3577 up 30 , and the JPY is at 109.73 up 59. The US 10yr bond yield is at 2.99% after creeping above 3.00% this morning after a poor bond market auction. WTI crude is at 70.91 up 185 after a reduction in size of US crude oil stockpile.

In economic data the PPI for April came out a bit lower than expected at headline 0.1% (0.2%) and core 0.2% (as expected).

The markets now have a lot of negative news that could potentially be very bad for markets not factored in to current prices - China and trade , Iran and price of oil , the amount of bonds that need to be issued to fund deficit and level of interest rates , North Korea and Donald Trump.

Topics: Trading, Market News, US Market Outlook