US stocks open with gains. Markets shrug off assassination attempt.

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The US stocks are opening with gains. Markets are shrugging off the assassination attempt and at the same time, increasing former Pres. Trumps odds at being elected President. That implies a softer Fed (new Fed Chair?), less regulation, lower taxes. The negative is less immigration and deportation of illegal immigrants, and higher tariffs. That may lead to higher deficits/higher inflation. That has the yield curve steepening.

The snapshot of the market five minutes into the open is showing:

  • Dow industrial average +241 points or 0.61% at 40245. The record high close is 40003.60.
  • S&P index +25.59 points or 0.45% at 5641.01
  • NASDAQ +94 points or 0.51% at 18493.

The small-cap Russell 2000 is up 13.83 points or 0.64% at 2162.20.

Looking at some of the major large-cap stocks:

  • Meta Platforms -0.12%
  • Amazon -0.05%
  • Nvidia +0.58%
  • Alphabet lesson 0.85%
  • Apple +1.88%
  • Microsoft +0.39%
  • Tesla +5.13%

In the US debt market, yields are higher/the yield curve is steepening (although 2-10 years spread is still negative):

  • 2-year yield 4.447%, -1.3 basis points.
  • 5-year yield 4.116%, +0.5 basis points.
  • 10 year yield 4.213%, +2.7 basis points.
  • 30-year yield 4.445%, +4.4 basis points

This article was written by Greg Michalowski at www.forexlive.com.



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