The major US stock indices are trading to new session highs. The gains are led by the Nasdaq index which is up 256 points or 1.58% at 16425.45. The S&P is up 0.86%. The small cap Russell 2000 is up 0.77%.

The gains are being helped by relief from the PPI data earlier today. The US yields have also turned negative with the 10 year down -1.4 basis points.

Fed comments have not been as hawkish which has traders wondering if maybe they are overreacting to the inflation scare.

The bullish beat goes on.