US stocks liking the jobs report at the open

The major US stock indices are moving higher at the open after the stronger jobs report from the nonfarm payroll perspective. The unemployment rate rose however, which helps to put a Goldilocks spin on the numbers.

A snapshot of the market shows:

• Dow industrial average of 330.63 points or 1.0% at 33392.21
• S&P index of 40.38 points or 0.96% at 4261.39
• NASDAQ index up 137.47 points or 1.05% at 13238.45

Nvidia shares traded higher with the market capitalization moving back above $1 trillion (UPDATE: but is finding some profit taking. The price is now down on the day....HMMMM).

Technically the S&P index is comfortably above its 100 week moving average at 4199 currently. A close above would be the 2nd week in a row above that key longer-term technical barometer.

The NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is working on its 6th straight week to the upside. It based against its 100-week moving average this week at session lows. The 100-week moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term is at 12889.22. The low price this week reached 12889.37.

The price is currently above its 50% retracement of the move down from the all time high. That level comes in at 13150.53. It is also above the swing high from August 15, 2022 at 13181.09 and trades at the highest level since April 18, 2022. Bullish.