The major indices are getting a modest left at the open on hopes that Russia's Putin may be succumbing to some of the economic pressures. Of course what he says and what he does are often two separate things.
A snapshot of the market currently shows:
- Dow industrial average up 272.13 points or 0.82% at 33446.21
- S&P index up 27.78 points or 0.65% at 4287.29
- NASDAQ index up 77.44 points or 0.59% 13207.41
- Russell 2000 up 12.22 points or 0.61% to 2023.91
The major indices are only up for the second time in seven trading days.
In other markets:
- Spot gold is down $25 or -1.26% at $1971.90
- Spot silver is down $0.15 -0.66% $25.73
- crude oil is trading at $107.41 that's up from the settle price of $106.02 yesterday, but off the high price of $110.25
- bitcoin is back below the $40,000 level at $39,505 as it wanders above and below that natural resistance/support level.
In the US debt market,
- 2 year yield is at 1.73% up 3.2 basis points
- 10 year is at 1.997%, up 0.5 basis points
- 30 year is at 2.371%, unchanged on the day
The CAD is now the strongest of the major currencies after their better than expected jobs report. The USDCAD fell below both its 200 hour moving average at 1.2751 and its 50% midpoint of the March trading range 1.27432. The price is currently taking below the 1.2700 level and looks toward the next target between 1.2680 1.26846. It's 100 day moving average is further lower at 1.2666 and becomes a downside target
The weakest of the majors is the JPY. The USD is tilted more to the upside with the largest gains vs the JPY, AUD, NZD and CHF.