Wall Street was mixed, blue chips making longest run in 30 years

Wall Street was mixed with modest gains in the Dow Jones and the S&P 500 making fresh highs while the NASDAQ dropped back.

The Dow Jones Industrial Average was leading with gains in health-care stocks and along with the S&P, the blue-chips were registering 10 straight days of gains and longest run in 30 years.The Dow Jones Industrial Average closed having gained 34 points, or 0.2%, to end at 20,810 and while the S&P 500 moved up about a point to close at 2,363. Meanwhile, the Nasdaq dropped 25 points and closed at 5,835.

On the data front, the Chicago Fed National Activity Index dropped from 0.18 to -0.05 (vs 0.00 expected) while the FHFA house prices climbed 0.4% in Dec (vs 0.5% expected). The Kansas Fed manufacturing rose from 9 to 14 vs the 9 expected and Jobless claims came as 244k vs the 240k expected.

The US dollar index is around 0.2% lower and US 10yr treasury yields fell from 2.45% to 2.38%. In respect of the Fed,  analysts at Westpac explained that US Fed fund futures implied rates were mixed, the April contract at 0.72%, implying around a 40% chance of a rate hike in March. "FOMC member Lockhart, who retires soon, said the data supports 2-3 hikes this year. Kapaln said the Fed should move sooner than later. Treasury Secretary Mnuchin said a long bond (50yr to 100yr) is worth consideration, and that tax reform by August is the aim."

Gold vs. US dollar; No yield vs. 116