Like Monday the S&P 500 yesterday opened at its intraday low and made its biggest advance in the first two minutes. It reached its morning high shortly before 11 AM and then traded in a fairly narrow range for the remainder of the session. A small surge in the final minutes set a 0.74% intraday high with the close fractionally lower at 0.73%. This was day six of the September rally, with the index up 3.12% for the month so far, the longest rally since the eight-day rally in early July. The popular financial press attributes the latest gains to relief that the odds of a US attack on Syria are fading.
The yield on the 10-year note closed at 2.96%, up 6 bps from Monday's close and 2 bps off its interim closing high last Thursday.
Here's a 10-minute look at the week so far.
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