NASDAQ index needs the charge for the second consecutive day
The major indices are openly higher after the tame inflation data. The NASDAQ index is leading the way with a gain of over 1%.
The snapshot of the market currently shows:
- S&P index up 27 points or 0.71% at 3903.26
- NASDAQ index up 161 points or 1.21% at 13232.50
- Dow up 225 points or 0.71% of 32057
a look at other markets as the US stock trading gets underway is showing:
- Spot gold plus $2.14 or +0.12% 1718.00. The price has moved higher as the dollar has trended more to the downside in early New York trading.
- Spot silver is up three cents or 0.12% at $25.96
- WTI crude oil futures are down $0.26 or -0.42% at $63.75
- The price of bitcoin is up $1800 or 3.35% of $56,140
In the forex, the USD move from the strongest to nearly the weakest (the CHF remains the weakest) since the start of the North American session. The NZD and AUD has moved to the top spot as the strongest currencies on "risk on" flows.
In the US debt market, the yields are still higher but off the high levels of the day. The 10 year yield is currently at 1.544%, up 1.8 basis points. The high yield for the day reached 1.565%. The U.S. Treasury will auction off 10 year notes at 1 PM ET. The market is focused on the demand for that issue given the recent concerns about US interest rates.
