Richmond Fed as expected- Nasdaq 100 outperforms in early trading

The December Richmond Fed manufacturing index has just been released. As mentioned earlier, the markets were looking for an improvement in the -14 November reading. The consensus was for something around -10. It has just been released at-10. Ahead of this the US stock markets had reopened for the final live trading session ahead of the Christmas break. The opening today was generally positive, but with clear outperformance in the Nasdaq 100. That has helped to push the S+P 500 closer to the 6k mark, as the Dow Jones lags its two peers. The Nasdaq 100 was buoyed by gains in Apple, as it continued to reverse recent losses and lift to exactly $257 in early trading. So, the Nasdaq 100 reopened today at 21,564 after closing last night at 21,503, It had reached a session high at 21,654 just ahead of this data, but in truth the Richmond Fed index is not the real driver for this index, one way or another right now. This data has not materially shifted the rise in US yields either and they are still grinding higher, which is supporting the USD/JPY, as it lifts above 157.25 ahead of the 4pm London Fix. The Nasdaq 100 is now higher and currently trading at 21,662 Finally, I would just take this opportunity to wish all, whatever their beliefs, the very best for the season and we will be back on December 27.