US stocks look ahead to more stimulus.

Technical Analysis

Author: Greg Michalowski | sp

Weaker jobs picture ignored

The US major stock indices are opening higher with S&P and Nasdaq indices trading at new record highs.   The markets are ignoring the weaker jobs report and looking forward to more Covid stimulus.

The snapshot of the markets are showing:

  • S&P index up 20 points or 0.50% of 3820.25
  • NASDAQ index up 90 points or 0.69% at 13156.79
  • Dow up 61 points or 0.20% at 31105
Micron is leading the charge today with a 4.25% gain after beating earnings and guiding higher.

Other winners today include:
  • Nio, up 5.08%
  • Snowflake, +4.17%
  • Tesla, +3.76%
  • air B&B, +2.16%
  • Alibaba, +2.16%
  • Square, +1.63%
in the Dow 30,:
  • Chevron, +1.81%
  • salesforce, +1.08%
  • Apple, +1.1%
  • Amgen, +0.93%
  • visa, +0.93%
A snapshot of other markets as stock trading gets underway shows:
  • Spot gold, $-32 or -1.67% to $1882
  • Spot silver down $0.66 or -2.45% at $26.48
  • WTI crude plus $0.78 or 1.53% of $51.61
  • Bitcoin is $1660 and $41,420. The high for the day reached $41,794.95
in the US debt market, yields are higher:
  • 2 year 0.138%, +0.2 basis points
  • 5 year 0.473%, +1.4 basis points
  • 10 year 1.098%, +1 point basis points
  • 30 year 1.864%, +1.2 basis points
A snapshot of the forex markets is showing the GBP is the strongest, and the EUR is the weakest. The USD has tilted lower since the jobs report with the GBPUSD the biggest change (dollar is down -0.32% vs the pound):

The USD is lower

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