The major US stock indices are higher led by the NASDAQ index, but off early high levels
The major US stock indices are moving higher in early trading led by the NASDAQ index. Better economic data is fueling the gains with retail sales, Philadelphia Fed manufacturing, and initial jobless claims all better than expected. TSMC earnings were higher than expectations overnight. Their shares are currently up over 8%. Nvidia shares are also higher by 2%.Although higher, the market is coming off at the open. A snapshot of the market six minutes into the open is currently shownDow industrial average is trading up 144.81 points or 0.34% at 43222.51S&P index 20.35 points or 0.35% at 5862.82NASDAQ index 84.33 points or 0.46% at 18451.41The small-cap Russell 2000 is trading down -2.31 points or -0.10% at 2284.36In the US debt market, yields are higher after the better than expected US data. 2 year yield 3.978%, +4.3 basis points5-year yield 3.897%, +5.5 basis points10 year yield 4.076%, +5.9 basis points30 year yield 4.357%, +5.8 basis pointsThe expectations for a 25 basis point cut are still 90%.In other markets: Crude oil is trading down $0.20 and $70.23Gold is trading up $9.22 or 0.35% at $2682.56.Silver is trading down two cents or -0.05% at $31.66.Bitcoin is trading down at $66,780. This article was written by Greg Michalowski at www.forexlive.com.
The major US stock indices are moving higher in early trading led by the NASDAQ index. Better economic data is fueling the gains with retail sales, Philadelphia Fed manufacturing, and initial jobless claims all better than expected. TSMC earnings were higher than expectations overnight. Their shares are currently up over 8%. Nvidia shares are also higher by 2%.
Although higher, the market is coming off at the open. A snapshot of the market six minutes into the open is currently shown
- Dow industrial average is trading up 144.81 points or 0.34% at 43222.51
- S&P index 20.35 points or 0.35% at 5862.82
- NASDAQ index 84.33 points or 0.46% at 18451.41
The small-cap Russell 2000 is trading down -2.31 points or -0.10% at 2284.36
In the US debt market, yields are higher after the better than expected US data.
- 2 year yield 3.978%, +4.3 basis points
- 5-year yield 3.897%, +5.5 basis points
- 10 year yield 4.076%, +5.9 basis points
- 30 year yield 4.357%, +5.8 basis points
The expectations for a 25 basis point cut are still 90%.
In other markets:
- Crude oil is trading down $0.20 and $70.23
- Gold is trading up $9.22 or 0.35% at $2682.56.
- Silver is trading down two cents or -0.05% at $31.66.
- Bitcoin is trading down at $66,780.
