The major US stock indices at 10 minutes into the open and are trading mixed. The Dow industrial average which was lower yesterday, is modestly lower again today. The S&P and NASDAQ are higher, but off their premarket high levels. A snapshot the market shows:
- Dow industrial average -15.95 points or -0.05% at 34447.75
- S&P index up 9.96 points or 0.23% at 4409.72
- NASDAQ index of 53.33 points or 0.40% at 13550.92
Shares of Nvidia are higher but not the size premarket levels. The current price is up $1.82 or 0.39% at $471.49 (they were up about 1.3% in premarket trading).
Microsoft shares are trading up $2.04 or 0.63% at $323.75 as it proposes a new solution to the Activision merger for UK authorities. The EU is now asking that Microsoft resubmit its new proposal for their perusal as well.
Tesla shares are up $4.77 or 2.08% after sharp gains yesterday.
Moderna shares are up for the 4th day out of 5. The price is up $3.10 or 2.80% in early US trading.
In the US debt market, yields are now higher after trading modestly lower earlier in the day:
- 2 year yield 5.037%, +4.5 basis points
- 5 year yield 4.498%, +4.0 basis points
- 10 year yield 4.36%, up 1.8 basis points
- 30 year yield 4.45%, down -0.3 basis points
The USD is seeing upside momentum with the reversal in yields:
- EURUSD is looking to test last Friday’s low price at 1.08442. The low prices reach 1.0849. Earlier, today the price tested its 100-day moving average up at 1.0930 and found willing sellers. The fallback below the 200-hour moving average currently at 1.09156, and then the 100-hour moving average 1.0884, opening the door for the sellers to take back control.
- USDJPY: The USDJPY is retracing earlier declines, and in the process is back above its 100-hour moving average at 145.825. The current price is trading at 146.08. On the top side, the high from yesterday and the high today stalled at 146.40. There is a swing area between 146.299 and 146.40
For a view of the technicals for the EURUSD, USDJPY and GBPUSD today click HERE . For a view of the technicals for the USDCAD, AUDUSD and NZDUSD click HERE.