The major US indices are opening with gains led by the NASDAQ index. Those moves have each of the indices trading at new record levels. Yields are marginally lower in the US.
Swiss National Bank surprised with a interest-rate cut which may have other central banks thinking. The difference is inflation is below 2% in Switzerland. Bank of England Rates unchanged but tilted toward a dovish stance.
A snapshot of the market currently shows:
- Dow industrial average is trading up 100 points or 0.25% at 39612.28
- S&P index is trading up 26.52 points or 0.51% at 5251.15
- NASDAQ index is trading up 147.29 points or 0.90% at 16516.70
Reddit IPO will go off today. There will be a lot of attention on that.
- Nvidia, +4.99%
- Super Micro Computers, +4.86%
- Meta Platforms, +1.28%
- Microsoft, +0.70%
- Micron announced their earnings late yesterday and beat expectations. Its shares are surging by around 17%
Apple shares are bucking the trend with the decline of -0.91%
Looking at the US debt market, yields are mostly lower but off their lowest levels:
- 2-year yield 4.608%, +0.5 basis points
- 5-year yield 4.228%, -1.4 basis points
- 10-year yield 4.249%, -2.2 basis points
- 30-year yield 4.426%, -2.9 basis points
Looking at other markets:
- Crude oil $-0.10 or -0.12% at $81.17. The high today reached $81.92. The low was at $80.68.
- Gold is trading at $2201.63 up $15.80 or 0.72%
- Silver is trading down -$0.26 or -1.04% or $25.30
- bitcoin is trading at $67,387. It is trading at $67,025 at the start of the US session. Its high price reached $68,249. Its a low was at $66,090.