The US major stock indices are marginally higher as trading gets underway. The markets seem a bit hesitant to move higher. The NASDAQ index has declined by around -1.1% for 2 consecutive days. It is holding onto a very small gain 15 minutes into the open. A snapshot of the market shows:
- Dow industrial average up 74.14 points or 0.21% at 34839.89
- S&P index up 8.75 points or 0.20% at 4413.07
- NASDAQ index up 5.8 points or 0.04% at 13480.43
A snapshot of the interest rate market shows that yields are mixed with the two-year down but the 30-year higher. The 10-year yield is trading at its highest level for the year and looks to approach the 2022 high at 4.335%. The high-yield has reached 4.312% today.
- 2 year yield 4.942%, -3.8 basis points
- 5 year yield 4.413%, +0.6 basis points
- 10 year yield 4.293% +3.4 basis points
- 30 year yield 4.408%, +4.8 basis points
in other markets:
- Crude oil is trading up $1.02 or 1.28% at $80.41. The low price rate $78.95. There has been support near the $79 level. That level held yesterday and again today
- Gold is trading up $5.36 or 0.28% at $1897.32
- Silver is trading up $0.36 or 1.65% or $22.77
- Bitcoin is remaining below the $29,000 level and moving more to the downside at $28,377
The Philadelphia Fed index game and sure than expected at 12.0 versus -10.0 expected. Employment was lower, but new orders and prices paid increased.
US initial jobless claims came in your expectations.
The US leading index is expected to remain negative at -0.4%. The leading index has not been above 0.0 since March 2022 as it continues to push toward a US recession (maybe one day it will be right).
