Jobs led rebound for the S+P 500 proves short-lived

Yesterday the US stock markets opened a little lower. The S+P 500 had closed on Friday at 5,751.07, which was not that far removed from its all time record high, at 5767.37 set on September 26. The index reopened yesterday at 5,737.80, but there was no rebound for it this time around and it seems the jobs report led gains on Friday were simply not sustainable just a day later. The recovery on Friday was questioned here too and so the higher US yields seemed to drag the index lower and eventually it fell back below 5,700 once more and later closed 55.13 points lower, at 5,695.94. The futures are a little lower this morning, but not markedly so at this stage, even as the European markets prepare to open lower shortly. Naturally, the geopolitical uncertainty is still hanging over all the global stock markets right now and the US is not immune to this. First support for the S+P 500 today, when live trading resumes, will be at 5,668.10 (21 day moving average). The odds of that price point being put to the test later on must have shortened after the failure to extend above 5,750 yesterday