Here's Why Trump's Ukraine Strategy Is Better Than Biden's
JD Vance Didn't Hold Back on Bolton, Ukraine, and Crime in This Interview
USDA Ends Taxpayer-Funded Solar on Prime US Farmland
Armed and Deployed: Trump’s National Guard Crackdown in D.C. Sends Clear Warning to...
Nine Days, Zero Murders: Trump’s D.C. Crackdown Delivers Results
Arizona Charges 170 in Immigration Sweep
CNN Admits the Brutal Truth: Democrats Are Bleeding Voters
Trump Will Send Troops to Baltimore if It Needs Help
Chinese Scammer Sentenced to 24 Months in Prison
DeSantis Defends Removal of Rainbow LGBT Crosswalk
Boston Cops Defy Left-Wing Mayor Michelle Wu, Secretly Aid ICE in Arresting Criminal...
Vivek Ramaswamy Surges Ahead in Ohio Governor's Race
FBI's 'Summer Heat' Initiative Under Trump to Make the U.S. Safe Again
California’s Homeless Crisis: Two Decades of Empty Promises Under Newsom’s Watch
When Envy Becomes a Political Weapon
OPINION

How Declining Yields Are Affecting The Market

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Richard Drew

Investors are back out in force today after upbeat economic news and earnings.  The Nasdaq is the best performing, up 1.20%, followed by the S&P 500, up 1%, and trading near another record high. The Dow is gaining .83% and hit an all-time high.

Advertisement

Energy and Financials, two of the best performers yesterday, are the worst performers today.  Financials are down despite great earnings from Bank of America (BAC) and Citigroup (C), due in large part to the decline in the yields of U.S. Treasuries. The 10 year is current 1.62%.  The reduction in interest rates is helping propel mega/large cap stocks higher.

FAANG, which was hit yesterday, is regaining its momentum. Coinbase (COIN) is relatively flat today, and has been in and out of the green, after its huge debut yesterday and is trading around $332.00.  Cathie Wood’s ARK investment disclosed it bought about $250 million in COIN yesterday.   

S&P 500 Index

+0.93%

 

Communication Services XLC

+1.04%

 

Consumer Discretionary XLY

+0.36%

 

Consumer Staples XLP

+0.76%

 

Energy XLE

 

-0.99%

Financials XLF

 

-0.14%

Health Care XLV

+1.80%

 

Industrials XLI

+0.34%

 

Materials XLB

+1.12%

 

Real Estate XLRE

+1.48%

 

Technology XLK

+1.42%

 

Utilities XLU

+0.56%

 
Advertisement

Breadth is positive on the NYSE, but down volume outpaces up volume on both exchanges.

Market Breadth

NYSE

NASDAQ

Advancing

1,921

1,908

Declining

1,311

2,105

52 Week High

249

166

52 Week Low

15

36

Up Volume

879.00M

1.08B

Down Volume

984.87M

1.12B

On the economic front, Industrial Production increased 1.4% in March, coming in below consensus +2.8%, and after a 2.6% decline in February. For the first quarter, Industrial Production increased 2.5% on an annualized basis.

To see the chart, click here.

Manufacturing production and mining output increased 2.7% and 5.7%, respectively.  Conversely, utilities declined 11.4%, as temperatures went from unseasonably cold in February to unseasonably warm in March, reducing the demand for heating.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement