The major indices have open higher oh with modest gains after yesterday's sharp declines. A snapshot of the market currently shows:
- Dow industrial average +70 points or 0.20% at 35441
- S&P index up 19 points or 0.39% 4594.50
- NASDAQ index up 69 points or 0.48% 14579.52
- Russell 2000 index up 10 points at 2106.35
The NASDAQ index closed below its 200 day moving average for the first time since April 2020 yesterday. That moving average currently comes in at 14734.97.
The S&P index closed just above its 100 day moving average yesterday. That moving average currently comes in at 4577.23. Move and close below that level today would increase the bearish bias.
The Dow industrial average closed below its 100 day moving average yesterday at 35414.92 currently. The price rebound today has taken the price back above that level. It will be a key barometer for the buyers and sellers in trading today.
In other markets as stock trading gets underway:
- Spot gold is trading up $12.50 or 0.69% at $1825.89
- Spot silver is up $0.38 or 1.64% at $23.84
- Crude oil is trading at $86.63 as it continues its rush to the upside (highest level since October 2014.
- Bitcoin is trading at $42,475. The high for the day reached $42,524
In the US debt market, the 10 year yield is trading at 1.854%. That's down from 1.902% at the highs today