After the Financial Times reported that Pres. Trump is pushing for a 15 – 20% tariff on all the EU goods and looks to keep 25% tariff on autos, the US stocks have tilted to the downside.
- Dow industrial average -0.55%
- S&P index -0.18%
- NASDAQ index 0.16%
- Russell 2000-0.64%
Both the S&P and the NASDAQ closed at record levels yesterday. For the trading week:
- Dow industrial average -0.30%
- S&P +0.43%
- NASDAQ index +1.30%
- Russell 2000+0.19%
Looking at the US debt market, yields are still lower on the day with the two-year yield down the most:
- 2-year yield 3.862%, -5.44 basis points
- 5-year yield 3.946%, -5.9 basis points
- 10 year yield 4.419%, -4.3 basis points
- 30 year yield 4.990%, -2.3 basis points
for the trading week, yields are lower:
- 2-year yield -3.0 basis points
- 5-year yield -3.2 basis points
- 10 year yield unchanged
- 30 year yield +3.5 basis points
The Fed funds interest rate is pricing in less than 50 basis points of cuts between now and the end of the year.
This article was written by Greg Michalowski at investinglive.com.
