At-a-Glance
Today’s Top Highlights
The equity markets saw a bit of a mix in price action today as the S&P, Russell and Dow all traded higher while the Nasdaq fell by almost 1% on the day. The Dow was the leader of the day trading higher by about 1.7% and traded to a new record high price. There was little data released today outside of Initial Jobless Claims which came in higher than expected, but the equities outside of the Nasdaq were still able to trade higher. Looking ahead to tomorrow, we will see Nonfarm payrolls and the unemployment rate data which could heavily impact these markets that are trading near record highs.
Outside of the equities, the strong selloff in the Crypto futures continued today as Bitcoin futures fell about 3%. This market is now trading in “oversold” territory on a daily chart, and is near the recent low seen back in February. When prices were last at these RSI levels, the market was able to slowly climb higher but eventually failed around the $83,000 mark and fell down to where prices are at now, just above $63,000. Some of the data released tomorrow could impact the Crypto futures as they can impact the currency markets broadly, so traders will be watching to see if the February lows will hold or be broken through.
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