US major indices are higher in early US trading

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The major US indices are higher in early trading. The NASDAQ index is leading the way followed closely by the S&P index. A snapshot of the market 11 minutes into the open is showing:

• Dow industrial average up 78.15 points or 0.20% at 38318.14
• S&P index up 22.78 points or 0.45% at 5033.37
• NASDAQ index up 84.51 points or 0.55% at 15535.82

The small-cap Russell 2000 is trading up 6.90 points or 0.35% at 1974.37.

The flash S&P Global PMI data will be released shortly with manufacturing expected at 52.0 (versus 51.9 last month). The services estimate is also at 52.0 (versus 51.7 last month).

US yields are highe ahead of the data:

• 2- year 4.99%, +1.8 basis points
• 5-year 4.681%, +2.1 basis points
• 10-year 4.643%, +2.1 basis points
• 30-year 4.749%, +2.5 basis points