February 8, 2023

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US stocks off lows in early trading

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Major indices lower but seeing some early dip buying

The major indices are lower but seeing some early dip buying. The Dow industrial average is leading the way to the downside with a decline of about -0.25% currently. The NASDAQ index is down -0.08%

A snapshot of the market currently shows:

  • S&P index -6.2 to points or -0.15% at 4157.04. Low reach 4150.45
  • NASDAQ index -10.774 points or -0.08% at 13903.99. Low reach 13870.97.
  • Dow industrial average -78.44 points or -0.23% at 33999.19. Low reached 33935.98.

In other markets:

  • Spot gold is unchanged at 1771.45
  • Spot silver is up four cents or 0.16% at $25.86
  • WTI crude oil futures are up $0.17 or 0.27% at $63.55
  • Bitcoin it is near unchanged at $56,158.81. The low price reached $53,430. The high price is at $56,669.90. 

In the US debt market, yields are mixed:

  • two year 0.157%, unchanged
  • 5-year 0.826%, -0.3 basis points
  • 10 year 1.599%, -0.5 basis points
  • 30 year 2.297%, unchanged

A snapshot of the strongest to weakest currencies continues to show the NZD and AUD that is the strongest of the majors. The GBP has surpassed the JPY as the weakest. 

The US dollars next

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