More gains for US stock stocks in early trading. The NASDAQ trades to a new record high

NASDAQ and S&P up for the fourth consecutive day

The US stocks opened and after a few minutes of trading, the major indices are trading higher. The gains are led by the NASDAQ index which has extended to a new record high.

A snapshot of the market currently shows:

  • Dow industrial average up 80 points or 0.23% 35418.50.
  • S&P index up 7.61 points or 0.17% of 4487.10
  • NASDAQ index up 44 points or 0.29% at 14987

A look around the other markets shows:

  • Spot gold is trading down $0.40 or -0.03% at $1804.50.
  • Spot silver is up $0.21 or 0.92% $23.78
  • WTI crude oil futures are up $1.48 or 2.25% $66.94.
  • Bitcoin is down $982 at $48,579

In the US debt market, the yields are higher with a modestly steeper yield curve :

The NZD is the strongest of the majors but off session highs, the CHF is the weakest followed by the JPY, EUR and GBP.  Most of the moves today are focused on the NZD and AUD changes.

The US dollar is down with most of the declines versus the was the New Zealand

At 10 AM, the new-home sales for July will be released with expectations at 698K vs 676K last month.

The Richmond Fed manufacturing index is expected to dip to 25 from 27. The Empire manufacturing and the Philadelphia Fed manufacturing index or both weaker than expectations.

Invest in yourself. See our forex education hub.

Technical Analysis

Articles You May Like

Dollar Softens Post-PPI Release, Yet Selling Momentum Remains Limited
We are upgrading our rating on Wells Fargo as investors dump stock post-earnings
Pound Gains on Hawkish BoE Remarks; Euro Regains Lost Ground
Silver likely to touch Rs 1,25,000 over next few months: Motilal Oswal
US Dollar prolongs losses despite strong PPI data

Leave a Reply

Your email address will not be published. Required fields are marked *