The major US stock indices are opening in the black after a mixed result yesterday. The Dow Industrial Average is leading the way today with a gain near 0.5%. The NASDAQ index is up 0.3%.
The snapshot of the market six minutes in the open and showing:
- Dow Industrial Average of 162.19 points or 0.49% at 32960.60
- S&P index up 14.93 points or 0.37% at 4006.93
- NASDAQ index is up 33.88 points or 0.29% at 11609.88
- Russell 2000 is trading up 0.42 points or 0.02% at 1879.92
US yields are lower in the short end today helped by weaker then expected initial jobless claims.
- Two year yield 4.983% -8.2 basis points
- five year yield 4.285% -5.0 basis points
- 10 year yield 3.967% -0.8 basis points
- 30 year yield 3.894% +1.7 basis points
Later today at 1 PM, the U.S. Treasury will auction off 30 year bonds. Yesterday’s 10 year note sale was met with low demand (high tail and low bid to cover).
Crude all is higher by about $0.74.
Gold is also higher by around $16 at $1829.60. Looking at the daily chart of gold, it has been scraping just above the 100 day moving average of the last two trading days. That 100 day moving average comes in at $1808. Yesterday’s low reached $1809.48.
Gold finds support buyers near the 100 day moving average