US Market ended up mixed, the Dow sets new record while NASDAQ continues to drop

Yesterday's announcement of Janet Yellen, Treasury Secretary, continues to dominate the flow of the stock market.
 
WAN CHAI, Hong Kong - May 10, 2021 - PRLog -- She had suggested that tax rates may have been too low to stop economic overheating and needs to be raised to lower the possibility of this happening. She added that since the vaccine roll-out is more successful than expected, economic activity towards pre-pandemic setting is closer than ever. This caused the growth stocks taking a leg, greatly affecting NASDAQ.

The Dow added almost 100 points or 0.3% approximately, reaching a new intra-day as well as closing high. The Dow is currently on a three-day winning streak, as opposed to NASDAQ which is on a three-day losing streak after today's session. NASDAQ dropped about 0.4%, still because of the decline in growth and tech stocks. Meanwhile, S&P ended hovering above the flat line after market wraps.

Stocks:
  • The Dow Jones Industrial Average increased by 97.31 points or 0.29% and closed at 334,230.
  • NASDAQ Composite Index closed at 13,582 after losing 51.02 points or 0.37%.
  • The S&P 500 Index extremely close to flat line at 4,168, increasing by 2.93 points or 0.07%.
  • Japan's Nikkei 225 went higher by 1.80% or 517.80 points and closed to 29,330.18
  • Hong Kong's Han Sen moved forward with 114.66 points or 0.40% gain
Bond yields ended higher on Wednesday's session.

Bonds:
  • U.S. 2 Year Treasury yield increased by 0.020 basis points or 14.94% and closed at 0.155.
  • U.S. 5 Year Treasury yield went up by 0.005 basis points or 0.62% at 0.798.
  • U.S. 10 Year Treasury yield gained 0.007 basis points or 0.45% and ended 1.578.
Crude went up while metal went down for commodities.

Commodities:
  • Gold stepped down to $1,778.50 per ounce after losing $14.44 or 0.81%
  • Silver currently at $26.49 per ounce with a 0.15% lost or $0.04
  • Western Texas Intermediate Crude increased by 0.23% and now at $66.78 per barrel
  • Brent crude at $69.21 per barrel after increasing by 0.36%
Here's the updates in the currency exchange:
  • U.S. Dollar Index down by 0.49% at 91.28
  • Euro up by 0.120 closing 1.20066 vs USD
  • Yen increased by 0.15% at 108.936 against USD
  • British Pound gained 0.01% at 1.3906 versus USD
  • Canadian Dollars slipped by 0.03% at 1.22622 vs USD
For more financial news and advisories do visit us at Olympus International Limited. You may also check what services we can offer by browsing at our website https://olympusintltd.com/ or contact us thru email.

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