US stocks open higher. Gains day erase some of the declines from yesterday
The major US indices are opening higher after sharp declines yesterday. Yesterday saw:
- Dow fall -413.04 points
- S&P fall -75.73 points
- Nasdaq fall -299.04 points
Today the snapshot 10 minutes after the opening is showing:
- Dow industrial average is trading up 250 points or 0.73% at 34559
- S&P index up 40 points or 0.91% at 4452.55
- NASDAQ index up 168 points or 1.25% 13576
The Russell 2000 is trading higher by 30.58 points or 1.54% at 2010.95.
The S&P index closed below its 200 hour moving average currently at 4420.86 yesterday, but gapped above the level in early trading today. The 200 hour moving average will continue to be a barometer for buyers and sellers going forward. For now the market dodged a bullet helped by the CPI data earlier today.
In other markets:
- Spot gold is trading up $13.30 or 0.68% at 1966.90 as yields fall and the dollar also moves lower
- Spot silver is up $0.20 or 0.82% $25.26
- WTI crude oil futures are trading up at $99.44. That’s up $5.30
- Bitcoin is remaining steady just above the $40,000 level at $40,350
In the US debt market, yields have moved lower after the relief from the CPI data. The US treasury will auction off 10 year notes at 1 PM ET.
In the forex market, the AUD is the strongest while the EUR is the weakest. The USD has moved lower since the start of the North American session and after the relief from the CPI data: