NASDAQ lagging as rates move higher
The US stocks are opening higher after yesterday's sharp gains. The Dow industrial average is outpacing the broader S&P and NASDAQ indices. The Dow is on pace for its best month since March. US rates are higher which tends to limit the NASDAQ gains (although the index is still higher).
The snapshot of the market currently shows:
- Dow industrial average up 211 points or 0.61% at 35124
- S&P index up 19.9 points or 0.45% of 4458.28
- NASDAQ index up 42 points or 0.28% at 14865.80
US yields are higher with the five year up 4.4 basis points leading the way. It has reached a high yield of 1.106%.
In the forex, the GBP remains the strongest of the majors while the JPY is still the weakest. The USD has moved marginally higher after the better retail sales, but remains mixed.
- Spot gold is down -$27.23 or -1.51% at $1768.03
- Spot silver is down -$0.24 or -1.09% at $23.25
- WTI crude oil is +$0.85 or 1.02% at $82.13
- Bitcoin is just below $60,000 at $59,755
