US stocks open higher with the Nasdaq leading the way

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.