US stock market open 29 July 2016
S&P -2pts to 2168
Dow -46pts to 18410
Nasdaq -3pts to 5158
US 10 year yields 1.48% bp
Stocks are softer at the open after the GDP data. In a normal world that would be the right reaction. In this crazy assed world, stocks should be up on the back of the poor numbers and what it means for the Fed. With rate expectations getting a hammering, that keeps the easy money rolling. I suspect that markets are trying to make sense of everything going on right now and that a proper direction will develop soon.
