The Dow Jones and S&P 500 slowed this morning following record breaking gains on Monday, prompted by a stellar employment report and evidence of post-pandemic economic recovery.
The Dow is currently down 14 points to 33,512 (-0.04%) while the S&P 500 has gained a little over one point at 4,079 (+0.05%). The Nasdaq Composite Index is currently up 15 points to 13,723 (+0.13%).
U.S. markets saw a record breaking Monday following the Easter holiday. The Dow posted a gain of 373 points on the day, while the Nasdaq soared by 225 points. The S&P 500 posted a modest 58 point gain on the day.
Investors flooded back into the market following the U.S. Jobs report for March, finding that 916,000 new jobs had been created.
The bond yield for U.S. Treasury 10-year notes has remained around 1.68% this morning, quelling fears some investors had about rising inflation rates and potential market instability.
Cryptocurrencies have similarly waned in today’s market, with Bitcoin (BTC) remaining at $58,000. Ethereum (ETH) also slowed, down to $2,090 in value after reaching $2,100 earlier on Monday. ETH just hit a major milestone, breaking $2,000 in value over the Easter weekend.
European markets opened to modest gains after being closed for Easter Monday. The Stoxx 600 posted a 3 point gain up to 435 (+0.75%) while London’s FTSE 100 shot up 95 points to 6,833 (+1.29%). The DAX outperformed this morning, posting 140 points to rest at 15,245 (+0.91%).
Asian markets were a mixed bag, with Shanghai’s Composite Index (SHCOMP) falling by a little over a point to 3,482 (-0.04%). Hong Kong’s Hang Sang (HSI) soared 560 points to rest at 28,938 for a near 2% gain, while Japan’s Nikkei lost 392 points to rest at 29,696 (-1.3%).