NEW YORK – US stocks remain close to the peaks. The dollar went up with Treasury earnings as volatility diminished from the market prior the loss of populism in the French presidential election.
CBOE Volatility Index slid to an all-time low price since 1993. S&P 500 Index escalated by below one point. Euro broke its 6-day streak after reaching 5, which causes the French vote to affect the stock market and contributed to the little dollar hike. Treasuries’ tumble caused the 10-year earnings to decline at 2.38%. Meanwhile, oil went up closing to 46 dollars per barrel.
Instability in the bond markets and US stocks vanished after the victory of Emmanuel Mancon versus the anti-euro Marine Le Pen. Mancon’s victory hurts the populism which had stirred the democracy in the West in the past. However, it was not a full triumph as the results made changes in the market. Investors are now shifting their focus on the new signs of global economic growth after American jobs swell more than the forecasted estimate.
Investors should keep an eye on the following:
- Walt Disney Company, Toyota Motor Corporation, Mitsubishi Corporation, Deutsche Telekom AG are now included in the yields this week.
- South Korean poll for the presidential election is due on Tuesday after the corruption crackdown on Park Geun-hye.
Major movements in the market:
- A new record – S&P 500 had a below-one-point increase which is 2,399.38 at 4 p.m. New York. It gained 0.1% later following the start of 2,401.36 new intraday high before the 0.2% fall back.
- Nasdaq 100 Index closes near 2% gaining another record. Small caps slid 0.4%
- Stoxx Europe 600 tumbled 0.1% caused by the miners.
- A 0.6-increase was recorded in the emerging-market equities.
- Euro finally fell 0.6% or 1.0931 dollars after the 0.2% increase in the past six days. It has been closing the highest since the month of November.
- Bloomberg Dollar Spot Index rose 0.5% after dropping in 4-weeks straight.
- 10-year bond earnings gained 2.38% or 3 basis points.
- Benchmark in France remain still in 0.841% while the German’s hangs on 0.418%
- West Texas Intermediate moved changed a bit after closing to a 21 cents increase to 46.43 dollars per barrel in New York.
- Copper dropped to its lowest in four months last Monday, which took out the yields from the past. Chinese refined imports dropped to 30% or 300,000 metric tons last month which is an all-time low since October.
Gold futures slightly moved at 1227 dollars per ounce.