All three major US indexes on pace to reach record closing levels

The rally continues, with all major indexes falling short of closing at record levels today.

• The Dow’s all-time high closing price on that day was 39,807.38. The index is now up 274 points to 39,832.

The NASDAQ and S&P closed at record levels yesterday. A: If something positive happens today, it will bring us closer to a new record.

• S&P rose 56.29 points or 1.07% to 5302.60
• The Nasdaq rose 223 points (1.35%) to 16,733.09.

For trading years:

• The Dow Jones Industrial Average rose 5.69%.
• S&P index rose 11.15%
• Nasdaq index rose 11.44%

Yields fell today, with the two-year yield down -7.8 basis points to 4.740%. The yield on the 10-year Treasury note fell -8.9 basis points to 4.355%.

Looking at the 10-year Treasury yield below, it has been trading at its lowest level dating back to April 10th, and at today’s trading low, the yield is testing the key 200-day moving average of 4.333% (see below). (see green line on chart). .

A break below this moving average level would be the first time the stock has fallen below that level since April 1st. The lowest 10-year bond yield in 2024 was 3.817% on February 1, 2024.

The U.S. 10-year interest rate helps set the U.S. 30-year mortgage rate. The 30-year home loan interest rate in the weekly home loan statistics released on this day was 7.08%, down from 7.18% the previous week. As you can see from the chart below, this ratio is still above its previous high of nearly 7.00% over the past few years. From 2005 to 2008, the highest values ​​ranged from 5.5% to 7.0%.

Meanwhile, the following is happening in Europe today:

• German’s Ducks closed at record high
• French CAC closes at record high level
• UK FTSE 100 closes at record high
• Spain’s ibex closed at its highest price since July 2015
• Italy’s FTSE MIB closed at record levels