NASDAQ leads the way with a gain of 1%
The major stock indices are opening higher and process hope to snap a three day slide. The NASDAQ is leading the way with a gain of over 1%. However, after yesterday’s -2.67% decline, it it is just a retracement of some of the losses.
A snapshot of the market a few minutes into the opening shows:
- S&P index +28.57 points or 0.7% at 4091.87. The index fell -2.15% yesterday
- NASDAQ index up 146 points or 1.12% at 13178. The index fell -2.67% yesterday
- Dow of 157 points or 0.47% at 33747. The index fell -1.99% yesterday
in other markets:
- Spot gold is trading up $5.30 or 0.3% $1821.15.
- Spot silver is trading down three cents or -0.12% at $27
- WTI crude oil futures are down $1.63 or -2.45% at $64.47
- Bitcoin is down $-4166 or -7.65% of $50,315. Elon Musk tweeted that Tesla would not accept bitcoin prepayment of cars until the energy cost of the digital currency market moves lower
- Ethereum is also down sharply. It is currently down $-260 or -6.35% at $3839 but off the low of $3550
In the US debt market, yields are lower with the 30 year leading the way at -1.7 basis points. The U.S. Treasury will auction off $27 billion of 30 year bonds at 1 PM ET.
A look at the forex market shows the NZD and CHF as the strongest of the majors, while the GBP is the weakest. The USD is a small tilt to the downside and weaker since the NY start on the back of higher stocks (risk off).