The major US indices are trading higher at the start of the trading day. Retail sales were better than expectations. That might mean the Fed might lean toward a 25 basis points but it also means that the economy is not as bad as hoped.
The Dow industrial average closed at a record level yesterday and is extending that record today. The S&P all-time high close comes in at 5667.21. The high price has reached 5659.83 so far today. The NASDAQ index is up the most with a gain of 0.67% at the open, but remains well below its high closing level at 18647.45 (the high price today has reached 17744.69 so far).
A snapshot of the market five minutes into the open is showing:
- Dow industrial average +120.35 points or 0.29% at 41742.43.
- S&P index up 20.36 points or 0.36% at 5653.45.
- NASDAQ index up 112.36 points or 0.64% at 17704.48
The small Russell 2000 is up 17.93 points or 0.82% at 2207.10
Looking at some of the large-cap stocks (and others):
- NVidia is up 0.98%
- Meta is up 1.45%.
- Apple is down -0.38%. Analysts are saying that preorders of the new iPhone below expectations
- Amazon is up 1.88%
- Microsoft is up 1.62%. MSFT announced a 10% increase in its quarterly dividend and approved a new $60 billion stock buyback program.
- Tesla is up 2.32%
Intel announced a "slew of stuff" after close yesterday. It's shares were up over 8% in premarket trading but is now up only 2.58% at $21.49.