Stocks cheer production cuts and higher oil prices? OK...whatever.

The US major stock indices are trading up and near high levels on the day.

  • The S&P is up 0.53% (+11.42 points) to 2171.35.
  • The Nasdaq rose by 12..835 points or +0.24% to 5318.547.
  • The Dow was up 110.53 points or 0.61%.

Did an OPEC production cut and higher oil prices help the tone? I guess so. The S&P close has taken the price back above the 50 day MA at the 2168.71 level.

In the US debt market,yields were higher but only by about 1 basis point

  • 2-year yield 0.7539%, +1 basis point
  • 5-year yield 1.1314%, +2 basis points
  • 10 year yield 1.5685%, +1 basis point
  • 30 year yield 2.2862%, +1 basis point