The market shrugs….
The fireworks from the G7 are not causing much of a stir in the US stock markets.
The Europeans stock reaction seemed to have helped (most major indices are higher). There are pockets of weakness in the auto sector in Europe. Shares of Daimler Benz in Germany are trading at the lowest level since September 2017 (at around $60). It has seen selling since January’s peak at around $77.
In the US, the snapshot is showing:
- S&P is up about 5 points or 0.18% at 2784
- Nasdaq is up 17 points or 0.23% at 7663
- Dow is up 34 points or 0.13% at 25351
No concerns in the stocks for now.
IN other market, the snapshot near the start of the US stock trading is showing:
- Spot gold up $0.86 (vs up about $2 at the start of the NY session).
- WTI crude oil is trading down -$0.64. That was near the early NY session levels at $65.10
- Bitcoin is trading up $44 at $6764. That too is little changed from earlier levels
- US yields are still up over 1 bp but no greater than 2 bps