S&P 500 Snapshot: A Modest Monday Loss
Doug Short | Jul 21, 2014 06:30PM ET
Geopolitical stress and the threat of sanctions remain the big headlines, and the Eurozone's Stoxx 50 closed with a 0.86% loss yesterday. US indexes were a bit more resilient. The benchmark S&P 500 opened fractionally lower at its -0.07% intraday high and sold off to its -0.63% intraday low about 70 minutes later. A partial recovery took it to a narrow trading range, where it spend most of the afternoon, closing with a modest loss of 0.23%.
The yield on the U.S. 10-Year note ended the day at 2.49%, 1 bp below the Friday close. It is now only 5 bps above its interim closing low of May 28th.
Here is a 15-minute chart of the past five sessions. The S&P 500 is up 6.78% year-to-date.
Volume on the SPDR S&P 500 (ARCA:SPY) ETF was light, suggesting relatively limited investor anxiety over the headline global risks.
For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.
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