S&P above 50 day MA
The US major stock indices are opening higher (no surprise there) after the strong US employment report with low wages (Goldilocks combination). The move higher has taken the S&P above its 50 day moving average. That comes in at 2741.31 today. Stay above is more bullish technically.
The snapshot right now shows:
- The S&P index is up 15.61 points or 0.57% at 2754
- The NASDAQ composite index is up 47 points or 0.63% at 7474
- The Dow industrial average is up 155 points or 0.62% at 25056
A snapshot of the US debt markets shows a move higher in yields:
- two-year 2.274%, +2.4 basis points
- 5 year 2.6637%, +3.4 basis points
- 10 year 2.901%, +4.4 basis points
- 30 year 3.167%, +4.5 basis points
In other markets:
- Spot gold is trading down $5.80 or -0.44% at $1316.40
- WTI crude oil futurestrading up $.87 or 1.45% at $60.99.
- Over in the bitcoin market, the digital currency is down $228 on Coinbase at $9120. The low over night fell to $8370. That took the price back below its 200 day MA at $8971. We are trading back above that key moving average. It will remain a key barometer for the bulls and bears in training today and going forward. Be aware
