The US stock market gives up its gains. The NASDAQ index is now in negative territory. Markets began to adjust further downward after Axios reported that Israeli Defense Minister Gallant told US Defense Secretary Austin that Israel had no other choice than retaliate against Iran. The comments were made on Sunday. Since then, the Israeli War Council has met without any action, suggesting that there may have been “a rethink.” Still, U.S. stocks are feeling a bit more nervous (or so it seems).
Yields have also risen, with the 10-year rate now up 13.7 basis points at 4.636%. This could also contribute to lower inventories. The Russell 2000 is down -9.39 points or -0.47% in response to the rate hike.
A market overview currently shows:
- NASDAQ Index -21 points or -0.14% to 16153.69
- S&P index +3.31 points or 0.06% to 5126.40
- Dow industrial average up 65 points or 0.17% to 38,047.27
Crude oil is still down -$0.45 at $84.61, but off session highs of $85.80.
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