Indices Consolidate Near All-Time Highs

In the last few days, the Dow Industrials, NASDAQ Composite and S&P 500 have all reached new all-time highs and cryptocurrencies have been on a tear as well. Today, markets are pulling back slightly with US index futures trading flat to down 0.2%are pretty much flat. Over in Europe, the Dax and FTSE are down 0.3%-0.4%.

The US 10-year treasury note yield has started to creep upward again after a series of Fed speakers maintained the party line of “higher interest rates for longer”. This afternoon, minutes from the last FOMC meeting may give investors more to chew on about what the US central bank is thinking. US existing home sales are due at 10:00 am EDT followed by weekly US DOE crude oil inventories at 10:30 am.

Copper, which has been on a tear lately, is staging a big correction this morning down 2.4%, while US Crude Oil is down 0.75%. Gold is down 0.5%.

Target is down 7.6% in premarket trading after reporting disappointing earnings. Nvidia* reports results after the close today.

*Shares of Nvidia are held in portfolios managed by SIA Wealth Management.

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