S&P and Nasdaq have their worst month in 2023. Indices lower for the 3Q too.

<p>The major indices are closing mixed today with the Dow Industrial Average average fearing the worst. The NASDAQ index eked out a small gain for the day. The S&amp;P was lower.</p><p>A snapshot of the closing levels shows:</p><ul><li>Dow industrial average fell -157.50 points or -0.47% at 33508.86</li><li>S&amp;P index -11.46 points or -0.27% at 4288.23</li><li>NASDAQ index rose 18.04 points or 0.14% at 13219.31</li></ul><p>For the month of September, all three major indices closed lower. The broader S&amp;P and NASDAQ indices had the worst trading month in 2023 (and worst month since December 2023). Looking at the month declines:</p><ul><li>Dow industrial average fell -3.50%</li><li>S&amp;P index -4.87%</li><li>NASDAQ index fell -5.81%</li></ul><p>Today is also the closing level for the 3rd quarter, and each of the major indices closed lower</p><ul><li>Dow Industrial Average fell -2.60%. That was the 1st negative quarter since the 3Q of 2022</li><li>S&amp;P index fell -3.65%. That too was the 1st negative quarter since the 3Q of 2022</li><li>NASDAQ index fell -4.12%, which was the first negative quarter since the 4Q of 2022</li></ul><p>For the trading year – with one more quarter to go):</p><ul><li>Dow industrial average is up 1.09%</li><li>S&amp;P index is up 11.68%</li><li>NASDAQ index is up 26.30%</li></ul><p>Interest rates moved higher this quarter – especially out the yield curve – which helped to depress stock levels:</p><ul><li>2-year yield rose 15.8 basis points or 3.22%</li><li>5-year yield rose 46.2 basis points or 11.10%</li><li>10-year yield moved up 73.8 basis points or 19.20%</li><li>30-year yield rose 84 basis points or 21.71%</li><li>The 2 – 10 year spread steepened by 58 basis points, but is still negative by -47 basis points</li><li>The 2 – 30 year spread steepened by 69 basis points, but is still negative by -35 basis points</li></ul><p>In other markets:</p><ul><li>Crude oil for the quarter rose $20.27 or 28.68%</li><li>Gold prices this quarter fell $-71.50 or -3.733%</li><li>Silver prices fell 59.6 cents or -2.62%.</li><li>Bitcoin fell $-3535 or 11.61%. Bitcoin still has another 2 days of trading before it's month end.</li></ul><p>In Forex for the 3Q, the US dollar was higher against all the major currency pairs with the largest gain versus the GBP. The smallest gain was averse the CHF (2.28%).:</p><ul><li>The US dollar index rose 328 pips to 106.204. That's a gain of 3.19%</li><li>EURUSD fell -340 pips or -3.16% (USD higher)</li><li>USDJPY rose 515 pips or 3.57% (USD higher)</li><li>GBPUSD fell -491 pips or -3.87% (USD higher)</li><li>USDCHF rose 204 pips or 2.28% (USD higher)</li><li>USDCAD rose 340 pips or 2.56% (USD higher)</li><li>AUDUSD fell -223 pips or -3.35% (USD higher)</li><li>NZDUSD fell -143 pips or -2.32% (USD higher)</li></ul>

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