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US stocks back off- Dow Jones slips from new 2023 high
As expected here earlier this afternoon, the Dow Jones did open higher and then lifted immediately to reach a new 2023 high, at 36,292. This always looked a likely move to be honest with, but the index has not stayed up there for long and now it has backed off to below 32,200 since. The price action is quite fluid and seems to be getting dragged lower by an earlier rejection of the 16k level on the Nasdaq 100, but more on that in a minute. The Dow Jones closed last night at 36,124, so I will be watching closely later on to see if the closes above or below that price point this evening. The Dow Jones is just now trading at 36,210
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