S&P higher by 0.2%
The US stocks are opening with modest gains. China agreed to cut import tariffs on US autos to 15% from 25% which is progress and has helped the tone.
Having said that, the "price action music" is not very strong.
The summary snapshot shows:
- The S&P is up 5.12 points or 0.18% at 2737
- The Nasdaq is up 25 points or 0.33% at 7418
- The Dow is unchanged at 25013.
The S&P 100 day MA is at 2709.75 today. The price has remained above the 100 day MA for 8 days in a row (today is the 9th if it can stay above) The high today at 2742 equaled the high from May 14th. A move above the 2742 level would be more bullish.
Ford is up 0.70%
GM is up 0.95%
Chrysler is up 2.5%
Other winners in early trading:
- Micron up 7.68%
- Celegene is up 2.2%
- Adobe is up 1.71%
- Netflix is up 1.29%
- Morgan Stanley is up 0.85%
- Citigroup is up 0.62%
Early losers include:
- Tesla down -1.20%
- Intuitive Surgical down -0.89%
- Home Depot down -0.77%
- Boeing down -0.69%
- Nvidia down -0.63%
- Twitter -0.62%
- Amazon is near unchanged.
Mark Zuckerberg speaks in front of European parliament today and is expected to apologize for the privacy breaches. The shares of FB are up 0.33% in early trading.
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