april fifth is in the books this is the
new york minute an early rally for the
sp500 ran out of steam on word of
caution at the Federal Reserve on equity
prices the minutes of the last Federal
Reserve meeting released today showed
some members saying that prices were
quite high relative to standard
valuation measures the sp500 ended down
0.3% after rising as much as 0.8% early
in the session in Europe the German
stock market fell as car makers came
under pressure with the change in mood
US Treasuries end of the day slightly
higher with the yield on the 10-year
note down 2 basis points at 2.33 percent
near the lows for the year investors and
traders are eagerly awaiting Friday's
jobs data in the US for any changes on
bets on the timing of the next rate hike
the futures market now shows the
sixty-three percent chance of another
increase in June oil prices pared gains
after briefly rising above 55 dollars a
barrel for the first time in a month
before the release of data that showed
an unexpected build in us inventories
and that's the New York minute