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Stocks waver in choppy session, Nasdaq falls again

  • Stocks swung between gains and losses before finishing mostly down, while the Nasdaq extended its recent slide to approach two-month lows; the Nasdaq has lost 3.6% so far this week vs. a 0.9% drop in the S&P.
  • The market volatility is "typical of a market that remains at the higher end of the range, and when you wind down a quarter," says market analyst Peter Cardillo.
  • Citigroup fell 5.4% after its capital plan did not pass Fed stress tests, while energy shares climbed as crude prices hit a two-week high on continued supply drawdowns at the Cushing storage hub and signs of improving U.S. demand.
  • Gold closed below $1,295/oz. to six-week lows as signs of improving U.S. economic growth and easing concerns about Ukraine dampened investor interest.
  • The week-long trend of selling shorter-end Treasurys in favor of longer maturities continued, as the yield on the benchmark 30-year bond sank as low as 2.668%, a nine-month low.
Comments (1)
  • GaltMachine
    , contributor
    Comments (1466) | Send Message
     
    "The week-long trend of selling shorter-end Treasurys in favor of longer maturities continued, as the yield on the benchmark 30-year bond sank as low as 2.668%, a nine-month low."

     

    I believe you are referring to the 10 yr yield here.
    27 Mar 2014, 04:43 PM Reply Like
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