US stocks close modestly higher

The three major US stock indices are closing modestly higher on the day:

• Dow Industrial Average average up 140.26 points or 0.36% at 38711.28
• S&P index up 7.94 points or 0.15% at 5291.35
• NASDAQ index of 28.38 points or 0.17% at 16857.05.

The small cap Russell 2000 index fell -25.73 points or -1.25% at 2033.94.

The Russell 2000 is not reacting to the lower yields seen over the last few trading days. The price moved lower yesterday despite double digit declines in yields. Today, the 10 year yield is down another 7.2 basis points but failed to push the small-caps higher. This is indicative of a market concerned more about growth going forward.

This article was written by Greg Michalowski at www.forexlive.com.