The major US stock indices are opening higher after rising yesterday. The major indices are on a 8-week winning streak.
Recall from yesterday:
- Dow Industrial Average rose 159.36 points or 0.43% at 37545.34
- S&P index rose 20.10 points or 0.42% at 4774.74
- Nasdaq index rose 80 160 points or 0.54% at 15074.57
The small-cap Russell 2000 index was the biggest unit with a gain of 25.23 points or 1.24%, as investors plopped into the riskier rate sensitive sector.
A snapshot of the major indices shows shows mixed result in early trading:
- Dow Industrial Average - 1.02 points or -0.01% at 37545.50
- S&P index up 2.91 point or 0.06% at 4777.65
- Nasdaq index up 31.28 points or 0.21% at 15105.85
The small-cap Russell 2000 index is trading at 702 points or 0.33% at 2066
some winners include:
- Meta, up 1.07%
- Amazon up 0.84%
- Tesla are up 1.46%
- Intel continues its surge with a gain of 1.4%. Intel shares are up 92.77% in 2023 after falling -48.68% in 2023
- Celsius, a popular new energy drink is trading up 2.33%
- Coinbase, the top holding from Cathie Woods Ark Innovation ETF, is trading up 4.27%. For the year it is up a whopping 408%
- Sofi technologies is up 1.76% to $10.14. The FinTech sector is heating up with yields moving lower. Sofi shares are up 119.96% in 2023.
In the US debt market, yields are lower with the longer end declining the most:
- 2-year yield 4.280%, -0.8 basis points
- 5-year yield 3.847% -2.8 basis points
- 10 year year 3.838% -4.7 basis points
- 30-year yield 3.982% -6.0 basis points
Looking at other markets:
- Crude oil is trading down -$0.66 or -0.87% at $74.90. That comes off high prices from the settlement being reached yesterday up to $76.18. Continued attacks in the Red Sea by Houthi rebels prompted the rise yesterday despite military presence.
- Gold is trading at one dollar or 0.06% at $2069.05
- Silver is down four cents or -0.18% at $24.16
- Bitcoin is trading at $43,024