Dow, S&P and NASDAQ all up around 1.1% in early trading
The major indices have continued their search to the upside at the open. The Dow, S&P and NASDAQ are all up around 1.1% a few minutes into the opening.
The snapshot currently shows:
- Dow industrial average up 360 points or 1.19%
- NASDAQ index up 158 points or 1.18%
- S&P index up 44.85 points or 1.19%
The meme stocks are not participating in the rally (the party seems to be over). The shares of Gamestop are trading down -42%. AMC is trading down 36%. Blackberry is down -11%.
Taking a look at other markets as stocks trading gets underway is showing
- spot gold is getting smashed at $-27.32 or -1.48% at $1833.50.
- Spot silver is also down sharply by $1.92 or -6.61% to $27.10
- WTI crude oil futures are up $1.47 or 2.75% to $55.02. The high price reached $55.26. The low was down $53.45
- The price of bitcoin is trading up $1100 or 3.3% of $34,780
in the forex market, the dollar continues to make moves to the upside in early New York trading, all the major currency pairs vs. the greenback are trading near or close to the dollar high levels for the day after trading lower earlier in the day. The only currency which is still stronger vs. the dollar on the day is the CAD, but only barely (6 pips). Can a USD rally keep the US stock market supported? That will be eyed today.
