Stocks Trend Up as Nasdaq Recovers from Correction

The Dow Jones Index faltered slightly this morning as the S&P and Nasdaq posted modest gains following bond sell-offs.

The Dow lost 22 points at market open this morning, down to 32,932 (-0.1%), while the S&P 500 Index rises 9 points to 3,978 (+0.23%). 

The tech heavy Nasdaq has reversed course from its correction last week, adding 113 points at market open to 13,567 (+0.83%). 

Bond yields seem to have stabilized at 1.6%, putting some investors at ease over fears that yields would move beyond 2%. 

Bitcoin has dropped nearly 10% of its value in a day, falling from a high of $60,505 to rest around $55,000 with prices still fluctuating. This sharp decrease comes after news of a new bill in India on Monday, with government officials proposing a nationwide ban on all trade and mining of cryptocurrency within its borders. 

Investors estimate that $200 billion in crypto was pulled off the market yesterday alone.

In foreign markets, Europe’s Stoxx 600 made solid headway as it posted a gain of 3 points to 426 (+0.78%). London’s FTSE 100 followed suit, climbing 41 points this morning to 6,791 (+0.61%). 

In Asia, the Shanghai Composite Index reversed its Monday downtrend, up 26 points to 3,446 (+0.78%). Hong Kong’s Hang Sang added 193 points today to rest at 29,027 (+0.67%), while Japan’s Nikkei continued its upward march by 154 points to 29,921 (+0.52%).

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