By Markus Heitkoetter
Here’s something you don’t see every day: Investors are paying for the privilege of lending Germany money!
Today Germany issued its first 5-year bond ever with a negative yield, which means investors are making a loss by loaning money to the German government. It sold €3.3 billion ($3.7 billion) of debt at a negative yield of 0.08%.
Other than that, there was NOTHING exciting today.
In another slow day of trading the E-Mini S&P spent the morning session in one of the smallest ranges we’ve had in recent memory, with just a 4.25 point range.
Without any new information during Fed Chair Janet Yellen’s testimony, the markets were quiet. There was a breakout in the afternoon to new highs. But in the end stocks retreated and ended the session relatively flat.
The S&P closed 1.5 points lower with a .08% drop. After making a new intraday high, the S&P closed at 2113.86.
Meanwhile the DOW managed to showed some life today and continued its run higher. The DOW closed with a 15 point gain, and a new all-time high close at 18224.57.
However, the NASDAQ wasn’t so lucky. After an impressive winning streak and 11 consecutive higher closes, the NASDAQ win streak came to an end with a .02% loss.
McDonald’s Corporation (MCD) had an impressive day, up 3.87% with a close at $98.66. Today’s move helped PowerX traders reach an ADR Profit Target at $97.93.
A PowerX Method Buy Signal was identified on 3rd Feb 2015