US stocks open higher with the Nasdaq leading the way

Technical Analysis

Author: Greg Michalowski | stocks

The Nasdaq is up over 100 points

The US stock is opening higher with the Nasdaq leading the way. The Nasdaq is up over 100 points or 1% on the day. The Dow is up nearly 200 points or 0.77%. The S&P is up a a similar amount in early trading.

The Nasdaq and S&P broke a 5 day winning streak yesterday with the declines yesterday.  

In the US debt market, yields are moving higher with the increased positive tone in the market:
  • 2 year 0.160%, +0.4 basis points
  • 5 year 0.302%, +1.5 basis points
  • 10 year 0.666%, +2.6 basis points
  • 30 year 1.404%, +0.3 basis points
spot gold is trading up $14.95 or 0.82% at $1809.70. Although risk on is prevailing in stocks and bonds, flows into the relative safety of gold are continuing as well. 

WTI crude oil futures are trading up $0.10 or 0.25% of $40.72. The inventory data for the week will released at 10:30 AM with crude oil inventories expected to show a drawdown of -3.2M barrels. The private data last night showed a build of 2.0 million barrels.

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