February 3, 2023

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NASDAQ higher for the first time in 5 days

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Major indices open higher after lower than expected CPI

The major US indices are opening higher after the lower than expected CPI. The NASDAQ is looking to break a four day decline (up for the first time in five days). The S&P and Dow are higher but with more modest gains.

A snapshot of the market currently shows:

  • NASDAQ index up 66.55 points or 0.44% at 15170
  • S&P index up 14.82 points or 0.33% at 4483.28
  • Dow industrial average up 78 points or 0.23% at 34948

In other markets as US trading gets underway:

  • Spot gold is trading up $1.51 or 0.06% at $1794.40.
  • Spot silver is down to two cents or -0.08% at $23.71.
  • WTI crude oil futures are up $0.65 or 0.92% at $71.08
  • Bitcoin is up to $1745 at $46,720

In the US debt market, yields have moved lower, after trading higher earlier in the day. The 10 year yield is now down -1.8 basis points at 1.306%. That is at session lows.

US yields are lower

A snapshot of the forex market continues to show the GBP is the strongest of the majors and the AUD as the weakest. However, the USD is now the second weakest currency after the tamer than expected CPI. The greenback is only higher versus the was AUD (up 0.11%). It is the weakest verse the GBP (-0.46%).  The dollar is also -0.24% vs the CAD. 

The US dollars weaker

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