NASDAQ index up over 2.5%
The major US indices are continuing their run to the upside seen this week. The NASDAQ index is a leading the charge with a gain of 2.7%. A snapshot of the market currently shows:
- S&P index up 55.7 points or 1.65% 3424.65
- NASDAQ index up 311 points or 2.79% 11470
- Dow industrial average up 255 points or 0.91% at 27730
in other markets as stocks open:
- spot gold is trading down about $1 or -0.5% $1907.82
- spot silver is trading down $0.18 or -0.75% at $24.04
- WTI crude oil futures are trading up $0.77 or 2.04% $38.44
US dollar has moved higher and Dow is the strongest of the major currency pairs with the CHF just behind. That is a curious move given the rise in stocks. The Pavlovian reaction of late has been higher stocks lead to dollar selling. The weakest of the currencies is the GBP now.
In the US debt market, yields continued to trend more to the downside.
- 2 year, 0.148%, -1.7 basis points. The range went from 0.148% to 0.172%
- 5 year 0.330%, -6.5 basis points. The range went from 0.329% to 0.422%
- 10 year 0.759%, -13.9 basis points. The range went from 0.756% to 0.943%
- 30 year 1.514%, -16.5 basis points. The range went from 1.502% to 1.751%
This article was originally published by Forexlive.com. Read the original article here.