The major US stock indices are trading mixed in early US trading. The NASDAQ index is leading the way to the upside after Meta crushed their earnings forecasts and also declared its first dividend and pronounced $50 billion of buybacks. Meta's share are are up 18.07%.
Amazon also reported strong earnings and is helping the NASDAQ index. His shares are currently up 7.05%.
The Dow Industrial Average is lower, however, as yields are 30 to the upside after the stronger-than-expected US jobs report. The 2-year yield is now up around 16 basis points at 4.353%. The 10 year yield is pushing against the 4.00% level with a gain of 13.2 basis points.
A snapshot of the market 12-minutes into the open is showing:
- Dow Industrial Average Dan 146.97 points or -0.38% at 38372.88
- S&P index up 10.84 points or 0.22% at 4917.02
- NASDAQ up 101.53 points or 0.66% at 15463.17
a snapshot of the US debt market currently shows:
- 2- year yield 4.351% +15.7 basis points
- 5-year yield 3.952% +15.4 basis points
- 10 year yield 3.993% +13.0 basis points
- 30-year yield 4.197% +9.4 basis points
The US dollar is sharply higher after the stronger report and higher rates:
- EURUSD: The EURUSD is estimated 50% midpoint of the range since the October low. That level comes in at 1.07936. Below that sets it 100-day moving average of 1.07756. The price last traded below the 100-day moving average back on December 11
- USDJPY: The USDJPY is trading above it 100-day moving average at 147.574. Its 200 hour moving average is at 147.45. Staying above those levels keeps the buyers in control.