Last weekend earlier this week, bad news was bad news. Today there was good news in the form of initial jobless claims ticking back to 233K from 250K last week. The expectations was for 240K.
That has helped to push stocks higher as good news is good news.
A snapshot of the market is showing:
- Dow Industrial Average average is trading at 221.20 or 0.56% at $38,993
- S&P index is trading up 54 points or 1.05% at 5254.71
- NASDAQ index is trading up 218.41 points or 1.34% at 16413
Russell 2000 index is trading up 24.01 or 1.20% at 2059.44
In the US debt market, yields are higher and trading near highs for the day (they were lower at the start of the US session). A snapshot of the yield curve shows:
- 2-year yield 4.073%, +7.6 basis points
- 5-year yield 3.850%, +5.5 basis points
- 10 year yield 4.008%, +4.2 basis points
- 30-year yield 4.295%, +3.4 basis points
Looking at other markets:
- Crude oil is trading up three cents at $75.27.
- Gold is trading up $25.71 or 1.08% at $2409.12.
- Silver is trading at $0.47 or 1.76% at $27.05.
- Bitcoin is trading higher at $57,811
This article was originally published by Forexlive.com. Read the original article here.