Markets put in a dull session Thursday with the Nasdaq rising 10 handles or .3%, and the S&P 500 up .1%. Both cut their intraday highs in half with a last hour drop. Going into Fridays session both benchmarks are up everyday this holiday shortened week, with the Nasdaq up a quiet 2%, and the S&P 500 1.3%. The Nasdaq is now less than 1% off its recent high and a close above 3700 would have this leading index poised for a sweet fourth quarter run. The S&P 500 ran into 50 day resistance today, and the Nasdaq seems to be pulling most of the markets weight, and a move above the 50 day for the S&P 500 would be a much welcomed assist for the tech index. Talking about round numbers the Dow ran into the 15000 level and backed off today. AAPL did the same with the round 500 number. Most importantly was the 10 year yield which hit the round 3%. It competes for investor capital with the stock market, and if that yield continues higher would prove appetizing for nervous stock market longs.
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