Dollar hits 38-year high vs yen; US stocks rise
Wed June 26, 2024 5:43 PM
The Dow started the day some 200 points in the red before recovering to break-even by noon and staying there, closing just barely in black. The S&P and Nasdaq seesawed like crazy with the S&P between red and black all day, closing near flat, while the Nasdaq at least was in the black all day but only modestly so and with much volatility. This speaks to everyone being on the fence awaiting Friday’s PCE data.
The only real news today was the
continued weakening of the Japanese yen as its yield remains near zero so it’s
been abandoned in favor of the much more lucrative dollar. The Japanese
government has been talking about intervention for some time now and that talk
got another boost today as they say, “seriously concerned and on high alert.” Per
the CBOE, volume came in a 11 billion, still below average.
DJ: 39,112.16 -299.05 NAS: 17,717.65 +220.84 S&P: 5,469.30
+21.43 6/25
DJ: 39,127.80 +15.64 NAS: 17,805.16
+87.50 S&P: 5,477.90
+8.60 6/26
Wed 6-26-24 5:43 pm Dollar hits 38-year high vs yen; US stocks rise | Reuters
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