Major US indices are trading higher in early US trading with the NASDAQ and leading the way. A look at the market one minute after the opening begins:
- The Dow Industrial Average rose 161.09 points or 0.42% to 38,836.78.
- S&P index by 28.57 points or 0.56% to 5156.37.
- NASDAQ index up 104.08 points or 0.64% to 16260.50.
The small-cap Russell 2000 index is trading up 18.18 points or 0.89 percent at 2,053.90.
As for the US debt market, yields were little changed after a decline earlier in the day:
- 2-year yield 4.809%, +0.4 basis point
- 5-year yield 4.485%, +0.3 basis point
- 10-year yield 4.501%, +0.2 basis point
- Yield at 30 years 4.63%, +0.3 basis point
The economic calendar is empty of any publications today. The United Kingdom is on vacation.
We fed speakers:
- Richmond Fed President Barkin will speak at 12:50 p.m. ET.
- The president of the New York Fed. Williams speaks at 1 p.m. ET
Last week, the Federal Reserve rates remained unchanged. Fed Chairman Powell has been seen as less hawkish, saying he doesn’t expect a rate hike — removing her from the debate, at least for now.
His view was somewhat supported by the weaker U.S. jobs report released Friday, which forecast an increase in nonfarm payroll jobs of 175,000 from 238,000. The unemployment rate rose from 3.8% to 3.9%, while the annual average fell to 3.9%, its lowest level since the start of 2021.
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