Major stock indices are up to start the week. The NASDAQ is working on its third consecutive day to the upside. The Dow and S&P are up for the second consecutive day. Financials outperform as Goldman and Bank of America expectations.
Treasury yields rise and the yield curve remains negative between 2-10 year yields. US oil prices are also sharply higher with the August contract now up over four dollars. Natural gas prices have hit its highest level in a month as excessive heat puts pressure on energy products.
Despite those headwinds, stocks are higher.
A snapshot of the markets nine minutes into the opening shows:
- Dow 316.51 points or 1.01% at 31604.77
- S&P up 33.64 points or 0.87% at 3896.81
- NASDAQ index of 129.53 points or 1.13% at 11581.95
- Russell 2026.22 points or 1.5% at 1770.5
In other markets:
- Spot gold is trading up $10.17 or 0.60% of $1716.94
- WTI crude oil futures are up $4.20 at $101.77
- the price bitcoin is trading back above the $22,000 level at $22,117
- 2year yield is trading at 3.181% up five basis points
- 10 year yield is at 2.993%, up 6.9 basis points
- 30 year yield is at 3.150%, up 6.7 basis points
