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Morning Market Stir: Relief Temporary as Markets Rollover on Wednesday

Equity markets weaken as oil crash begins to spill over

Thursday, December 11 – Alan Knuckman reports from the floor of the CME Group in Chicago where equities took a spill on Wednesday. The S&P closed at 2,026, the Dow at 17,542, and the Nasdaq at 4,227. Equities fell about 1.5% across the board. The correlation with the dollar continued as the US dollar index fell as well, closing at 88.29, which allowed the Euro to bounce to 1.2443. The bond market breakout pressed higher as bond futures closed at 143.30. Crude hit new 5-year lows and closed at 60.95. Gold held up well, finishing at 1,230. This morning we're seeing a reactionary bounce in equities and the dollar, but bonds are strong as well which may be a warning for equities. Crude was up early but failed to hold gains, and gold is pulling back.

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