US Market Update

By Trade The NewsDec 29, 2008 07:00PM ET

www.investing.com/analysis/fundamental/us-market-update---15453

US Market Update

By Trade The News | Dec 29, 2008 07:00PM ET

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Dow -95 S&P -11.5 NASDAQ -28

- US stock markets are moving lower following a slightly higher New York open, which in turn is weighing on the European bourses into their close. Overall stock trading remains thin and choppy as anemic holiday volumes take their toll. Much attention continues to be paid to the unfolding situation in the Middle East as officials from both Hamas and Israel jockey for position around the escalating conflict in Gaza . Escalating rhetoric sent front month crude above $42 briefly but has since fallen back after the NY open. Treasury markets are seeing some gains with better buying at the short end widening the benchmark spread. The 2-year yield has fallen back below 0.80% while the 10-year yields offers 2.07%.

- Individual stock news has been light but holders of Rohm and Hass are certainly not happy after Dow Chemical's joint venture deal in Kuwait officially fell through. Speculation has circulated for some time, but the confirmed collapse has many running for the exits on concerns the ROH deal will have trouble closing. ROH is down more than 20% at $50, but some analysts see the stock trading into the $20's if the $78 all cash offer falls apart. DOW is down more than 20% as well.

- Currency trade continues to focus around the GBP/related crosses. Dealers ponder sustainability of the upside momentum on the EUR/GBP cross as it tested 0.98 in today's session but with holiday-like liquidity issues the dealers agree that it is hard to 'fight the tape'. Also safe haven bids remain viable this session and CHF is holding its gains it its related pairs. The CHF-related pairs continue to trend on safe haven status. Dealers are pondering exactly when the CHF sudden revival of its safe-haven status. USD/CHF hovering near a pivot of 1.0430 area and EUR/CHF testing the mid 1.48 area JPY has been regulated to the back burner but dealers continue to debate when (or if) MOF would resist JPY strength at some point.

- The EUR/USD retraced from its European highs of 1.4363 as oil treated the bulk of its gains. EUR/USD ending the morning at 1.4240 as NYMEX Feb crude futures lingers at $38.50 area after testing $42.00 in Europe . Gold was holding on it the bulk of its gains at $878 level.

Disclaimer: All information provided by Trade The News, referred to as TTN or WE hereafter, is for informational purposes only. TTN does not provide investment advice nor is anything on our site a recommendation to Buy or Sell securities from TTN. Our community, which is a real-time interactive mesh of all many mediums of communications spans over 100 countries and always taken from sources deemed reliable. No guarantees or assurances can be made to the accuracy of any information provided.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

May 07, 2025

ECB

2.65%

Apr 17, 2025

BOE

4.50%

May 08, 2025

SNB

0.25%

Jun 19, 2025

RBA

4.10%

May 20, 2025

BOC

2.75%

Apr 16, 2025

RBNZ

3.50%

May 28, 2025

BOJ

0.50%

May 01, 2025

CBR

21.00%

Apr 25, 2025

RBI

6.00%

Jun 06, 2025

PBOC

3.10%

BCB

14.25%

May 07, 2025

US 30	40,237.0	+643.3	+1.62%
US 500	5,361.3	+93.3	+1.77%
Dow Jones	40,212.71	+619.05	+1.56%
S&P 500	5,363.36	+95.31	+1.81%
Nasdaq	16,724.46	+337.14	+2.06%
S&P 500 VIX	37.56	-3.16	-7.76%
Dollar Index	99.890	-0.720	-0.72%

Crude Oil WTI	61.50	+1.43	+2.38%
Brent Oil	64.76	+1.43	+2.26%
Natural Gas	3.527	-0.030	-0.84%
Gold	3,244.60	+67.10	+2.11%
Silver	31.910	+1.151	+3.74%
Copper	4.5230	+0.1865	+4.30%
US Soybeans	1,042.75	+13.75	+1.34%

U.S. 10Y	4.495	+0.072	+1.63%
U.S. 30Y	4.875	+0.006	+0.12%
U.S. 5Y	4.168	+0.098	+2.41%
U.S. 3M	4.325	+0.006	+0.14%
US 10Y T-Note	109.73	-0.86	-0.78%
Euro Bund	130.98	+0.62	+0.48%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	198.15	+7.73	+4.06%
NVIDIA	110.93	+3.36	+3.12%
Alphabet A	157.14	+4.32	+2.83%
Tesla	252.31	-0.09	-0.04%
Amazon.com	184.87	+3.65	+2.01%
Netflix	918.29	-2.88	-0.31%
Meta Platforms	543.57	-2.72	-0.50%

US Market Update

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