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US stocks hold losses into the close

Yesterday there was no rebound into the close for the US stock markets. That would have been extremely unlikely to happen anyway, given the bond market rout, following the higher than forecast US CPI data. In pure percentage terms it was the Dow Jones that handed back the most (-1.09%), but in truth it could have been worse. The Asian markets have been mixed overnight and the losses in the Nikkei 225 have been modest and that looks to rest with the weaker Yen since this time yesterday. The US futures are a little higher this morning too, but not by anything that cannot be reversed in the blink of any eye. The Dow Jones closed last night at 38,461, with a loss of 422 points. The futures price is just now suggesting it will reopen later today at 38,485

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