MA remains a key barometer this week
The US stocks are heading higher in early US trading. The snapshot shows:
- The S&P is up 12 points or 0.47%
- The Nasdaq is up 52 points or 0.76%
- The Dow is up 145 points or 0.62%
The S&P index remains above its 200 day MA at 2594.63. On Friday, the index moved below the key technical barometer but closed back above. The pair did close below the MA line last Monday and toyed with the line on Tuesday and Wednesday. Key MA this week.
Earnings for JP Morgan and Citigroup on Friday and the Zuckerberg testimony on Capital Hill are stories this week. The Facebook head is scheduled to go before a joint hearing of the Senate Judiciary and Commerce committees on Tuesday, and then the House Energy and Commerce Committee on Wednesday.
US yields remain higher:
- 2 year 2.28%, +1.6 basis points
- 5 year 2.61%, +2.4 basis points
- 10 year 2.80%, +2.4 basis points
- 30 year 3.04%, +1.8 basis points
PS Larry Kudlow will be on CNBC shortly. He is an expert on spin and he stopped a fall at the start of last week. Will he give an up market a bigger boost today?