More relief for small businesses and hopes for a economic rebound on reopening
The US stock markets are now open and the major indices are moving higher on risk on flows and increase confidence that the worst is behind the US/world. More states are lining up to restart their economies (rightly or wrongly... Time will tell). Crude oil prices are also higher which is giving some relief.
A snapshot of the major indices 7 minutes into the opening is currently showing:
- S&P index +49.23 points or 1.8% at 2785.79. The high price reached 2795.29. The low extended to 2783.72
- Nasdaq index is up 164.36 points or 1.99% at 8427.59. The high price reached 8448.46. The low extended to 8417.47
- The Dow is up 407.3 points or 1.77% at 23426.18. The high price reached 23494.61. The low extended to 23392.92
a snapshot of the other markets as stocks open:
- spot gold is up $21.50 or 1.28% at $1707.90
- WTI crude oil futures are up $3.10 or 27% at $14.72
in the US debt market yields are rebounding higher after yesterdays declines:
- 2 year 0.207%, +0.1 basis point
- 5 year 0.361, +2.5 basis points
- 10 year 0.605%, +3.5 basis points
- 30 year 1.204%, +4.1 basis points
In the forex market, the CAD has gotten stronger as the North American session progresses from the opening levels. The JPY is now the weakest of the majors, overtaking the USD for that distinction. The AUD is still the strongest of the majors.
