S&P 500 Snapshot: Trampoline Day
Doug Short | Apr 15, 2014 01:43AM ET
A better than expected C ) earnings triggered a rally after last week's selloff. The S&P 500 surged at the open, booked some gains and then traded to its 102% intraday high during the lunch hour. The index then spent the afternoon giving up essentially all the day's gain to its 0.01% intraday low early in the final hour. It promptly bounced to its closing gain of 0.82%.
The yield on the 10-year note finished at 2.65%, up 2 bps from Friday's close and 5 bps off the 2014 low of 2.60%.
Here is a snapshot of the past five sessions.
The daily chart shows that today's trampoline action came on somewhat reduced volume.
The S&P 500 is now down 0.96% for 2014.
Here is a longer perspective, starting with the all-time high prior to the Great Recession.
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