Major US indices are trading marginally higher

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The major stock indices are moving to the upside in early US trading. The gains are being led by the NASDAQ index up about 0.5%. The Dow Industrial Average is up around 0.25% and trying to snap a 5 day decline. The NASDAQ soared by over 200 points yesterday on the back of Nvidia which rose over 24%. Nvidia’s gains are Intel’s losses and it’s shares fell -5.5% yesterday which contributed to the Dow industrial averages decline yesterday.

A snapshot of the market 8 minutes into the open is showing:

  • Dow industrial average up 106.69 points or 0.32% at 32871.35
  • S&P index up 13.78 points or 0.33% at 4165.05. The 100 week moving average remains at 4200, a key level for this index going forward.
  • NASDAQ index up 66.59 points or 0.52% at 12764.69

Looking at some of the big cap High flyers, they are lagging as the focus goes to “other stocks” today:

  • Nvidia is trading down -0.22%
  • alphabet is up 0.03%
  • Microsoft is down -0.17%
  • Apple is up 0.66%
  • Adobe is up 2.49% after rising over 7% yesterday
  • Meta is up 0.9%
  • Amazon is up 1.67%
  • Intel shares are down -0.18%

In the US debt market, yield to be moving higher in the short end, as better US data increases the chance of a June/July hike

  • 2 year yield 4.580% +7.1 basis points
  • 5 year yield 3.946% +4.9 basis points
  • 10 year yield 3.829% +1.6 basis points
  • 30 year yield 3.991% -1.2 basis points