S&P and Dow lagg
The major US indices are opening with gains led by the NASDAQ composite index. A snapshot of the major indices a few minutes into the opening are showing:
- S&P index +7.5 points or 0.22% at 3332.90
- NASDAQ index up 45 points or 0.46% at 9447.
- Dow up 120 points or 0.42% at 29281
In the US debt market, yields are ticking more to the downside:
- 2 year 1.513%, unchanged
- 5 year 1.536%, -1.0 basis points
- 10 year 1.72%, -1.4 basis points
- 30 year 2.16%, -1.7 basis points
In other markets as stock trading gets underway:
- spot gold is down $-1.50 or -0.10% at $1561.45
- WTI crude oil futures are trading down $1.17 or -2.10% at $54.40. Since the Iran bombing day, the price of crude oil has fallen -17.18%.
In the forex market:
- GBPUSD stalled at support near its 100 hour moving average at 1.3077. We currently trade at 1.3099, down 24 pips. A move above the 1.3100 level should solicit more buying (give dip buyers more confidence).
- USDJPY is below the December ceiling at 108.675-723 and above the 38.2% retracement at 109.275. The price currently trades at 109.524, between the extremes.