January 27, 2023

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US stocks trading mixed at the start of the US session

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NASDAQ down, S&P near unchanged, Dow higher

The US major indices are trading mixed at the start of the US session. The better retail sales and the regional Philadelphia Fed index (Empire manufacturing index also rose sharply yesterday) have pushed up the Dow. The S&P is near unchanged and the Nasdaq – worried about higher rates on the better growth – is lower.

The snapshot of the market six minutes into the opening are showing:

  • Dow up 61.75 points or 0.18% at 34872
  • S&P index -2.13 points or -0.05% of 4478.31
  • NASDAQ -29.24 points or -0.2% at 15131.47

a snapshot of other markets currently shows:

  • Spot gold is down $39.89 or -2.22% at $1755 as the higher dollar saps buying demand for the precious metal
  • Spot silver is down one dollar or -4.1% at $22.85
  • WTI crude oil futures are down $0.14 or -0.18% at $72.48
  • bitcoin is trading down $186 at $47,950

US yields are higher after the better than expected retail sales. The 10 year yield is up 3.7 basis point as is the five year yield.

US yields are higher after the better than expected retail sales

In the forex market, the US dollar is now the strongest of the major currencies in reaction to the better retail sales and Philadelphia Fed data. The CHF is the weakest.  

US dollar stronger after retail sales in Philly Fed

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