The NASDAQ index is leading the way to the outside as the major indices open with gains to start the trading day. Fed Chair Powell's testimony on Capitol Hill will be a focus. That testimony starts at 10 AM ET.
A snapshot of the market currently shows:
- Dow industrial average up 167.89 points or 0.44% at 38753.09
- S&P index of 28.12 points or 0.55% at 5106.76
- NASDAQ index up 125.89 points or 0.79% at 16065.47.
The small-cap Russell 2000 is up 15.56 points or 0.76% at 2069.13.
Ahead of the dead chair testimony, US yields are lower:
- 2- year yield 4.532% -1.9 basis points
- 5-year yield 4.111% -2.7 basis points
- 10 year yield 4.115% -2.1 basis points
- 30-year yield 4.271% -0.3 basis points
Crude oil is moving to the upside today after declines yesterday. The price is now up $1.41 or 1.82% at $79.58. The high price reached $79.71 so far.
Gold is rising by $14.70 or 0.69% at $2142.53.
Bitcoin is at $67,044. Yesterday the high-priced extended to a new all-time record level of $69,210 and then promptly tumbled to a low of $59,313 before reversing back to the upside.
The Bank of Canada interest rate decision will be announced at 9:45 AM ET.
At 10 AM, wholesale inventories and sales in the US for January will be released with -0.1% for inventories and +0.5% for sales.JOLTS job openings will be released at 10 AM ET as well with 8.900 million versus 9.026 million last month.
