S&P up +0.73%. Nasdaq up +0.60. Dow up 0.73%

The major US indices are ending the day with solid gains.

  • The S&P rose by +0.73%
  • The Nasdaq index increased by +0.60% and the
  • Dow industrial average rose by +0.73%.

The S&P index moved below the 50 day MA yesterday but closed back above the MA line. That was the first break since the November election. Today, the low held above the MA line and also moved above the broken trend line. The selling seems to be over for now.

In other markets, a snap shot of the major currencies vs each other shows that the AUD is ending the day as the strongest. It rose against all the major currency pairs. The GBP was the weakest. The GBP tumbled on the day before the triggering of Article 50 tomorrow by PM May.

The USD recovered quite nicely and had strong gains against most currencies with the exception of the AUD (the USD was little changed ag. the CAD).

  • Spot gold was down by -$3.00 to $1251.30
  • WTI Crude recovered to $48.37 (up $0.64)
  • 10 year yield rose to 2.416% up 3. 7 bps