Stocks are trading higher in early US trading with the major indices up about 1%.
The snapshot of the market currently shows:
- Dow industrial average +372 points or 1.06% at 35304
- S&P index up 41 points or 0.90% at 4609
- NASDAQ index up 150 points or 1.0% at 15130
- Russell 2000 up 31 points or 1.45% at 2171
The S&P index yesterday came down to test its 100 day moving average at 4525.20 currently. Early in December, that moving average was also tested and found support buyers. Stay above the 100 day moving average keeps the buyers more in control. The 50 day moving averages at 4612.78. The current price is just below that level.
A look around the other markets are showing:
- Spot gold is trading up five dollars or 0.27% at $1795.20.
- Spot silver is trading up $0.34 or 1.55% at $22.60
- WTI crude oil futures are trading at $70.34. That's up $1.70 on the day
- The price of bitcoin is trading just below the $49,000 level at $48,833. The high price extended up to $49,353.49 today – still below the natural resistance level at the $50,000 level
In the US debt market, yields are trading near highs for the day with the 10 year up 5.1 basis points. The U.S. Treasury will auction off 20 year bonds at 1 PM ET later today.
In the forex, the snapshot of the current market shows the NZD the meaning as the strongest of the majors while the JPY and CHF are tied for the weakest of the majors.
