US stocks continue the run to the upside

The major US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are moving higher in early US trading after the CPI data came in a little softer than expectations. That should assure the Fed will skip for the 1st time after 10 consecutive hikes saw the central bank raise rates by 500 basis point from 0.25% to 5.25%. The Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term will announce a decision tomorrow at 2 PM ET.

Looking at the major indices:

• Dow Industrial Average is trading up 183.64 points or 0.54% at 34249.98
• S&P index is up 28.28 points or 0.65% at 4367.14
• NASDAQ index is up 106.40 points or 0.79% at 13568.32

looking at some of the recent high flyers:

• Adobe is trading up another $10.87 or 2.29% at $485.50. Adobe announces their earnings on Thursday.
• Nvidia is up $6.79 or 1.72% at $401.61
• Microsoft is trading up $3.31 or 1.0% at $335.16. It's to the courts for the Microsoft/Activision Blizzard deal
• Oracle announce their earnings yesterday and is up $5.16 or 4.43% at $121.59
• Tesla's up for the 13th consecutive day. Its shares are up $4.42 or 1.77% at $254.25
• Meta-is trading up $3.19 or 1.18% to $274.24

Looking at the yield curve, yields are lower but off their lowest levels:

• 2-year yield 4.558% -3.4 basis points
• 5-year yield 3.881% -3.5 basis points
• 10-year yield 3.743% -2.4 basis points
• 30-year yield 3.900% -0.6 basis points

The U.S. Treasury will auction off 30-year bonds at 1 PM ET. The 3 and 10 year note issues were met with tepid demand, especially from overseas investors. It could be a Fed decision influence.

In other markets:

• Crude oil is up $2.03 or 3.04% at $69.16. Yesterday the price reached $66.80 the lowest level since May 4 when the price spiked down to $63.64 before snapping back to the upside.
• Gold is trading down -$2.60 or -0.15% at $1954.46
• Bitcoin is trading just above the $26,000 level at $26,086

The US dollars trading up and down after the CPI data:

• EURUSD. The EURUSD is trading above and below its 100-day moving average of 1.0806 and the 38.2% retracement of the move down from the April 26 high at 1.0810
• USDJPY: The USDJPY has the 100 and 200 hour moving averages converges at 139.48, and the price is trading above and below that level in trading today. It is currently trading just below the level at 139.42 after trading as low as 139.00 (a nice round number) after the CPI data. There is support near a swing area between 138.73 and 138.897. Stay below the 100/200 hour moving averages at 139.48 is the focus now for both buyers and sellers in the pair. Stay below is more bearish. Move above and we should see further upside probing.