Major indices open little changed

Technical Analysis

Author: Greg Michalowski | sp

S&P closed at a record level yesterday

The major indices are opening mixed/little changed as focus turns toward the first day of trading in Coinbase.  Chatter is the $250 reference prices more is quite a bit higher (like over $500-$600).  It will likely take a while for the first trade.  The symbol is COIN. That would value the company at over $100B.  

A snapshot of the market seven minutes into the opening is showing:
  • S&P index up 0.92 points or 0.02% at 4142.51
  • Nasdaq up 2.432 points or 0.02% at 13998.53
  • Dow +58 points or 0.17% at 33735.55
in other markets:
  • Spot gold is trading down $7.65 or -0.44% 1737.86
  • Spot silver is down six cents or -0.24% $25.28
  • WTI crude oil futures are trading up $1.21 or 2.01% $61.39
  • Bitcoin ahead of the Coinbase first trade is up $1045 or 1.65% $64,244.78
in the US debt market, yields are trading higher:
  • 2 year 0.163%, +0.4 basis points
  • 5 year 0.859%, +2.4 basis points
  • 10 year 1.639%, +2.4 basis points
  • 30 year 2.317%, +2.3 basis points
A snapshot of the Forex market, continues to show the NZD as the strongest of the majors (and breaking to new highs as I type). It is widening its lead versus the AUD in early North American trading.  The CAD and CHF are the weakest. 

NZD remains the strongest of the majors

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