US major indices trading up marginally after sharp declines yesterday

<p>The major US stock indices are clinging to modest gains at the start of the US session. Yesterday stocks fell sharply with the NASDAQ index falling over -1.6%. US yields are higher but trading near low levels.</p><p>A snapshot of the market currently shows:</p><ul><li>Dow industrial average up 28 points or 0.10% at 33698</li><li>S&amp;P index up 2.63 points or 0.06% at 4317.20</li><li>NASDAQ index up 9.4 points or 0.07% at 13324</li></ul><p>Looking at the US debt market, yields are higher at the curve but near their low levels for the day:</p><ul><li>2-year yield 5.209% -0.8 basis points</li><li>5-year yield 4.937% +1.2 basis points</li><li>10-year yield 4.921% +2.0 basis points</li><li>30-year yield 5.006% +1.2 basis points.</li></ul><p>The 10-year yield reached a high of 4.983, just below the 5% level. The 30-year yield reached 5.069% before rotating back to the downside. The 2 – 10-year spread is trading stronger by 2 basis points at -28.8 basis points. It reached a high of -27.6 basis points as it inched closer to a flat yield curve.</p><p>Crude oil is trading down $0.75 at $86.52. </p><p>Spot gold is trading up another $7 or 0.36% at $1954.95. Yesterday the high price extended to $1962.58 as it moved closer to the $2000 level. The last time the price traded above $2000 was back on May 16. The high for the year reached $2081.83 on May 4</p>

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