The broader US stock indices are trading near unchanged on the day after volatile premarket trading off of the PPI data release this morning. Shares were higher before the PPI data, but turned negative after the release. The indices reversed back higher after yields fell on the lower PPI revisions. The dollar has also moved lower in the up-and-down volatility.
A snapshot of the market currently shows:
- Dow Industrial Average average is up 53.14 points or 0.13% at 39484.66
- S&P index is up 3.41 points or 0.07% at 5224.82
- NASDAQ index is up 26.65 points or 0.16% at 16414.88.
The small-cap Russell 2000 is up 23.85 points or 1.16% at 2085.97
In the news
- Amazon says Adam Selipsky to step down as AWS CEO for personal reasons with Matt Graman is to replace him. Amazon shares are trading down -0.87%
- GameStop, AMC and other meme stocks are surging once again as euphoria reenters after a 3-year hiatus from twitter by its leader Roaring Kitty (it is all so hard to say). GameStop shares are currently up is 87.19% while AMC shares are up 109.21%
- Meta Platforms shares are down -1.32%
- Nvidia shares a bear -0.76% despite Wells Fargo increasing its price target to $1,150 from $970. Despite several price target increases for the leading AI chipmaker, shares have remained flat due to concerns over the upcoming May 22 earnings report.
- Microsoft is down -0.16%
- Apple shares are up 0.72%
- Alphabet shares are up 0.07%
- Tesla shares are up 2.65%
A snapshot of the US debt market:
- US 2Y T-Note: Yield at 4.8295%, down 0.027
- US 3Y T-Note: Yield at 4.6325%, down 0.025
- US 5Y T-Note: Yield at 4.4738%, down 0.025
- US 7Y T-Note: Yield at 4.4678%, down 0.02
- US 10Y T-Note: Yield at 4.4649%, down 0.016
- US 20Y T-Bond: Yield at 4.7088%, down 0.015
- US 30Y T-Bond: Yield at 4.6115%, down 0.011
