December 5, 2022

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Major indices open higher. NASDAQ lags

2 min read

Dow industrial average leads the way with a gain over 200 points

The major indices are opening mixed with the NASDAQ lagging. The Dow industrial average is higher. Interest rates are trading higher today. Crude oil is near closing levels will yesterday. Gold is back below the $1900 level. Yesterday, the major indices closed with gains although the Dow just eked out a small 10 point gain.

A snapshot of the market shows:

  • S&P index up 12.7 points or 0.3% at 4208.5
  • NASDAQ index up five points or 0.03% 13742.20 
  • Dow industrial average up 203 points or 0.59% at 34527

Looking at other markets as New York trading in stocks get underway:

  • Spot gold is trading down around five dollars -0.28% $1891.70
  • SPot Silver is down four cents or -0.16% $27.63
  • WTI crude oil futures are trading unchanged at $66.21
  • bitcoin is up $1424 or 3.7% at $40,215.

Looking at the US debt market, yields are higher with five year yield up the .9 basis points. The 30 year bond is up 3.3 basis points. The U.S. Treasury will auction off seven year notes at 1 PM ET.

US yields are higher
In the forex, the strongest the weakest have been mixed up since the start of the North American session.  The CAD is now the strongest of the majors, taking over that spot from the GBPUSD. The JPY is now the weakest, taking over that spot from the CHF at the start of the NA session.   The USD has moved marginally higher since the open with gains vs the JPY and CHF leading the charge. Both are trading near new highs for the day. Meanwhile the USDCAD is making new lows.
Cad is the strongest and the JPY is the weakest

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