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US stocks close lower. NASDAQ and S&P close lower for the fourth consecutive day

  
Analysis, US Market

The major indices all closed lower today with the NASDAQ index leading the way to the downside once again.

  • All three indices posted weekly losses
  • S&P and NASDAQ close lower for the fourth consecutive day
  • Dow industrial average closed lower for the third consecutive day
  • S&P closes 3% from its record high
  • Dow industrial average and S&P both reached new intraday highs this week before selling off
  • NASDAQ closes 8% from its all-time high
  • Russell 2000 closes 11% from its all-time high
  • U.S. Treasury said the highest level since January 2020
  • NASDAQ had its worst week since February

The final numbers are showing:

  • Dow industrial average felt -4.9 points or -0.01% at 36231.60
  • S&P index fell 19.0 points or -0.40% at 4677.04
  • NASDAQ index fell 144.95 points or -0.96% at 14935.91
  • Russell 2000 fell -26.56 points or -1.2% at 2179.81

For the trading week

  • Dow industrial average fell -0.31%
  • S&P index fell -1.85%
  • NASDAQ index tumbled by -4.53%
  • Russell 2000 fell -3.11%

Major currencies still caught in that pre-NFP lull

  
Analysis, Forex
FX 07-01Elsewhere, equities are also looking fairly tentative while Treasury yields are little changed. This is shaping up to be a typical placeholder session awaiting the US jobs report later in the day.

Going back to FX, EUR/USD is still caught around 1.1300 with large expiries holding close to the figure level today. Meanwhile, USD/JPY is also still toying with a potential break of 116.00 as buyers seek validation from the key risk event later. GBP/USD is holding just below its 100-day moving average at 1.3552 but above its key hourly moving averages at 1.3497-20.

As for commodity currencies, AUD/USD is pinned down around 0.7150-60 as sellers stay in near-term control in the hunt towards 0.7100. Large expiries at 0.7160 and 0.7200 are ones to take note of for today.

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