The major US stock indices are opening higher with the NASDAQ index leading the way. The tech heavy NASDAQ index fell -269 points yesterday after solid gains on Monday and Tuesday. The S&P is also up and newly erased its declines from yesterday ( -33 points). The Dow industrial average closed unchanged yesterday and is on track for its best week since March.
A snapshot of the market a few minutes into the open is showing:
- Dow industrial average up 160 points or 0.45% at 35912
- S&P index is up 33 points or 0.70% at 4700.21
- NASDAQ index is up 126 points or 0.82% at 15644
The Russell 2000 index is also recovering some of its losses from yesterday. It currently trades up 16.85 points or 0.76% 2 to 37.33.
Looking at the hourly chart of the NASDAQ index below, the price is trading above and below the falling 100 hour moving average at 15637.11. Getting above it and the 200 hour moving average at 15719 would increase the bullish bias.
