The major indices are trading higher to start the day and the week. The S&P and NASDAQ are looking to break 4-day down streaks. The earnings calendar is largely complete, but Nvidia will report earnings on Wednesday. Their shares are surging by $16 in early US trading ahead of those earnings:
A snapshot of the markets shows (9:36 AM ET):
- Dow industrial average of 56.21 points or 0.16%
- S&P index of 20.02 points or 0.46% at 4389.74
- NASDAQ index up 95.06 points or 0.72% at 13385.83
Shares of Nvidia are up $16.05 or 3.71% at $449.04.
Also rising today are:
- Palo Alto Networks up 14.98% after announcing earnings after the close on Friday
- Crowdstrike up 4.99%
- Tesla up 3.47%
- Fortinet, up 2.55%
- Broadcom up 2.22%
- Moderna up 2.11%
- Snowflake up 2.0%
In the US debt market, yields are higher
- 2 year yield 4.979%, +4.3 basis points
- 5 year yield 4.433%, +5.2 basis points
- 10 year yield 4.318%, +6.7 basis points
- 30 year yield 4.443%, +6.4 basis points
in other markets:
- Crude oil is up $0.58 or 0.72% $81.24
- Gold is trading up $3.04 or 0.16% at $1891.90
- Silver is up $0.38 or 1.72% to $23.12
- Bitcoin is trading just above the $26,000 level at $26,047
In the forex,
- EURUSD: The EURUSD is breaking back below its 100 are moving average 1.0888. The move back below the moving average is disappointing to the buyers on the break above that level earlier today. Last week the high on Thursday found resistance cells against the 100 hour moving average. Sellers back in control
- GBPUSD: The GBPUSD is also dipping back to the downside in the early US session, but remains above its rising 100 hour moving average of 1.27311
- USDJPY: The USDJPY is making new highs for the day and looks toward the swing highs from last Thursday at 146.29 and 146.554. The current price is trading at 146.14 after reaching the high price of 146.175.
