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S+P 500 steps back from record highs
Earlier this afternoon the US stock markets rose as US yields fell and it was a positive opening for all three major indexes. Subsequent to that we saw new record highs for the Nasdaq 100 and the S+P 500. The Nasdaq rose to 18,416 and the S+P 500 topped out at 5,189. So fresh all time record highs for both, but now they are well off the boil. The Nasdaq 100 has dropped back to below 18,250 and the S+P 500 is now trading lower too, but in relative terms it is still holding up better than the Nasdaq. The downturn comes as US yields edge of their earlier, post payroll lows. At this moment in time, I am on standby into the close tonight, just to see if these reversals turn into something more significant. If they do, then I will report on that first thing Monday morning. The S+P 500 is currently trading at 5,162
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