The Nasdaq is warming up to the idea of lower yields and lower oil prices

The Nasdaq has now nearly wiped out the opening gap lower. The index is down just 0.2% after falling nearly 2% at the open.

There’s a bit of reflexivity working its way through the market. Lower yields are good for stocks and tech in particular due to its perception as a long-duration asset. In addition, the $9 turnaround in oil prices is deflationary and the kind of thing that could lead the Fed to hike less than feared.

Michael Cooper

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