The major US stock indices are maintaining gains in premarket trading but levels are off the post PPI highs. The NASDAQ index is looking to snap a four day losing streak.
A snapshot of the market implied by the futures shows:
- Dow industrial average +141
- S&P index +22.25 point
- NASDAQ index +107 points
Looking at the US yield curve, yields are off their PPI low levels (and trade more toward the upper extreme for the day). The yields are still down on the day
- 2-year 4.381%, -2.0 basis points
- 5-year 4.598%, -1.8 basis points
- 10 year 4.792%, -1.3 basis points
- 30 year 4.985%, -0.3 basis points
Crude oil is down -$0.60 or -0.71% at $78.27
Gold si little changed at $2663
Bitcoin is trading at $96,340 after dipping below $90,000 yesterday.
The declines in the USD after the PPI has seen a retracement of those declines. The more importance CPI data will be released tomorrow.
