US stocks sharply higher at the open

The major US stock indices are opening sharply higher with the NASDAQ index leading the way. The Dow is up for the third consecutive day. The NASDAQ snapped a two day losing streak.

A snapshot of the market currently shows:

Tesla shares are higher after beating expectations. The shares are up $106 or 10.97% at $1084. Netflix shares are down -0.93% in early trading after getting hammered yesterday by about – 37%.

In the forex market, the EUR remains the strongest of the majors while the  JPY  is now the weakest (overtaking the NZD from the start of the NY session). The USD is mostly higher but lower vs the EUR and CAD and unchanged vs the GBP.

The strongest to the weakest of the major currencies
  • Spot gold is down $-12.50 or -0.64% at $1944.80
  • Spot silver is down $0.46 or -1.85% $24.71
  • WTI crude oil is trading at $103.65. That’s up $1.50
  • Bitcoin is trading up $1300 up $42,700

In the US debt market the US yields are higher from earlier levels in the session. Yesterday yields fell by 12 – 13 basis points in the 10 and 30 year sector. The snapshot of the yield curve currently shows:

  • 2 year 2.659%, +7.7 basis points
  • 5 year 2.931%, +6.9 basis points
  • 10 year 2.888%, +5.2 basis points
  • 30 year 2.924%, +4.6 basis points



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