February 1, 2023

Dow closes at another record


The US major stock indices are closing mixed:

  • The Dow industrial average is closing up 214.57 points or 0.59% at 36799.64. That is a new record close. Intraday, the price it reached a new all-time record high 36934.84. The index has 2 record closes in 2022.
  • The S&P index closed down -3.04 points or -0.06% at 4793.53. It closed at record level yesterday intraday, a new intraday high was reached at 4818.62
  • The NASDAQ index was the laggard the day with a sharp decline of -210.07 points or -1.33% at 15622.73.

The move lower in the NASDAQ was helped by higher yields along the longer end of the curve. However, yields did come off there highs for the day, and the two and 10 year yields were actually lower.

  • The 10 year yield reached a day high of 1.686%. There is resistance at 1.705% (see earlier post here).
  • The 30 year yield reached 2.103%. It is trading at 2.061% currently.

US yields are mixed

In the forex market, the AUD is ending as the strongest of the majors while the JPY is the runaway weakest of the majors.

Forex



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