Afternoon Note
Major indices showed a bit of a resurgence intraday; but have been in seesaw so far. The market is a little anxious today with the Fed minutes at 2 pm, bond auction results and the highly anticipated Jobs report on Friday.
The Ten-Year Treasury Yield (TNX) briefly surpassed the 4.7% level this morning before falling just below it.
Bitcoin (BTC) is also seeing some continued weakness, currently down 3.72% at $93,596.95.
The only sector in the green is Health Care (XLV), up 0.11%. Meanwhile the two laggards are Utilities (XLU) and Communication Services (XLC).
The 30-year bond auction saw better demand than last time and high yield below when issue. Overall, it was a good auction, investors are still willing to buy bonds.
Market breadth is decidedly negative, but volume is a bit light.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
760 |
934 |
Decliners |
2,004 |
3,328 |
New Highs |
16 |
42 |
New Lows |
115 |
135 |
Up Volume |
502.67 million |
1.64 billion |
Down Volume |
1.51 billion |
4.03 billion |
NYSE and Nasdaq will close their equity and options markets tomorrow, observing a National Day of Mourning.
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