December 6, 2022

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Major indices open higher after the weaker jobs report

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NASDAQ gains the most as taper fears subside

The major indices are opening higher after the weaker jobs report with the NASDAQ index up the most as taper fears subside a bit after the weaker jobs report.

A snapshot of the markets four minutes into the opening currently shows:

  • S&P index up 21.47 points or 0.51% have 4214.26
  • NASDAQ index up 103.81 points or 0.77% at 13720
  • Dow industrial average up 113 points or 0.32% at 34689

In the forex market, the AUD and NZD have erased the to the top as the strongest of the major currencies. The USD and CAD have moved to the bottom of the table after weaker jobs data in both countries. 

NASDAQ gains the most as taper fears subside_

In other markets:

  • Spot gold is up $17.60 or 0.95% $1888.78 as it reacts to the lower dollar and lower yields.
  • Spot silver is also higher by $0.36 or 1.33% at $27.79
  • WTI crude oil futures are up $0.83 or 1.21% at $69.64. That is just off the high price of $69.76 and trades at the highest level since October 2018
  • Bitcoin is down $-1800 or -4.75% at $36,878

In the US debt market, yields are lower across the board:

  • 2 year 0.146%, -0.7 basis points
  • 5 year 0.802%, -3.6 basis point
  • 10 year 1.590%, -3.4 basis points (trading at the low yield for the day)
  • 30 year 2.274% -2.1 basis points

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