US stocks surged 6% on the open
The horses are off.
The opening bells on the major stock indices have signaled the start of the trading day, and the stocks are off.
Major indices are trading around up 6% (its volatile) after yesterday's sharp declines. The Dow industrial average fell by -9.99%. The NASDAQ and S&P indices were also lower by over 9% on the day.
The snapshot 3 minutes into the opening are showing:
- S&P index up 135.47 points or 5.46%
- NASDAQ index up 396 points or 5.65% at 7593
- Dow industrial average up 32 points or 4.87%
The volatility index (VIX) is at 66.34 which is a decline of -9 points. It is still well elevated.
In the US debt market, yields are trading higher:
- 2 year 0.516%, +3.7 basis points
- 5 year 0.713%, +11.0 basis points
- 10 year 0.934%, +13 basis points
- 30 year 1.522%, +8.0 basis points
In other markets:
- spot gold is trading up $11 or 0.71% $1587
- WTI crude oil futures are trading up $0.85 or 2.68% at $32.32
In the forex market, the AUD remains the strongest, while the JPY is the weakest. The USD has seen more buying in early New York trading. The EURUSD, GBPUSD, USDJPY, USDCHF have all made new highs in the last hour so of trading.
