Can the gains be sustained
The major US stock indices are opening with gains, but are off the highs seen in premarket trading. Near the start of the North American session, the futures were implying:
- Dow industrial average up 264 points
- S&P index up 33 points
- NASDAQ index up 120 points
The current snapshot for the major indices shows:
- Dow industrial average up 140 points
- S&P index up 619 points
- NASDAQ up 72 points
The pattern of late has been open higher and moved lower. Will that pattern continue today.
Draft Kings has made a $20 billion stock and cash offer for UKs Entain PLC. This according to David Faber on CNBC.
A look at other markets as stock trading gets underway shows:
- Spot gold up $8.20 or 0.46% 1772.76.
- Spot silver up $0.26 or 1.14% $22.50
- WTI crude oil futures are up $0.50 or 0.71% at $70.64
- bitcoin is trading near unchanged at $43,000
in the US debt market, the yields have moved back down toward unchanged levels (give or take) after seeing earlier gains.
A snapshot of the forex market is showing the CHF the strongest of the major currencies, taking over from the CAD at the start of the NA session. The AUD and NZD are now the weakest as traders turn more "risk off" again.