Hello traders everywhere. For the most part stocks are trading higher today led by tech, but overall the stock market is looking at posting a loss for the week after finishing higher last week. This has been an up and down week for stocks, with the major averages posting strong gains early in the week only to trade lower as the week progressed.
10-year U.S. Note Yield
The benchmark 10-year U.S. note yield hit a four-year high earlier this week after the Fed released its minutes from their January meeting showing that the central bank sees increased economic growth and an uptick in inflation as justification to continue to raise interest rates gradually. All eyes will be on the new Fed Chair Jerome Powell’s testimony next week as he speaks for the first time.
The 10-year U.S. note yield traded below that four-year high, near 2.875% today.
Key Levels To Watch Next Week:
S&P 500 (CME:SP500): 2,872.87
Dow (INDEX:DJI): 25,520.53
NASDAQ (NASDAQ:COMP): 7,501.58
Gold (NYMEX:GC.G18.E): 1,335.30
Crude Oil (NYMEX:CL.J18.E): 60.75
U.S. Dollar (NYBOT:DX.H18.E): 90.45
Bitcoin (CME:BRTI): 6,194.46