US stocks open with gains. Markets shrug off assassination attempt.

July 15, 2024 at 02:37PM
The US stocks are opening with gains. Markets are shrugging off the assassination attempt and at the same time, increasing former Pres. Trumps odds at being elected President. That implies a softer Fed (new Fed Chair?), less regulation, lower taxes. The negative is less immigration and deportation of illegal immigrants, and higher tariffs. That may lead to higher deficits/higher inflation. That has the yield curve steepening.

The snapshot of the market five minutes into the open is showing:

Dow industrial average +241 points or 0.61% at 40245. The record high close is 40003.60.

S&P index +25.59 points or 0.45% at 5641.01

NASDAQ +94 points or 0.51% at 18493.

The small-cap Russell 2000 is up 13.83 points or 0.64% at 2162.20.

Looking at some of the major large-cap stocks:

Meta Platforms -0.12%

Amazon -0.05%

Nvidia +0.58%

Alphabet lesson 0.85%

Apple +1.88%

Microsoft +0.39%

Tesla +5.13%

In the US debt market, yields are higher/the yield curve is steepening (although 2-10 years spread is still negative):

2-year yield 4.447%, -1.3 basis points.

5-year yield 4.116%, +0.5 basis points.

10 year yield 4.213%, +2.7 basis points.

30-year yield 4.445%, +4.4 basis points

This article was written by Greg Michalowski at www.forexlive.com.