US stocks open higher as job growth trumps higher rates


Dip buyers make an early play

The US stocks are opening higher as dip buyers make a play after the sharp declines this week. The NASDAQ index has been down sharply over the last three days losing over 6% in that time frame.  

The snapshot of the major indices five minutes into the opening currently shows:

  • S&P index up 31.8 points or 0.84% at 3800.52
  • NASDAQ index up 76 points or 0.6% at 12800
  • Dow 317 points or 1.02% at 31237

A snapshot of the debt market shows

  • two year, 0.148%, +0.4 basis points
  • five year 0.821%, +3.1 basis points
  • 10 year 1.588%, +2.4 basis points. The high yield reach a new cycle high of 1.6238%
  • 30 year 2.310%, -0.9 basis points

in other markets:

  • Spot gold is trading up one dollar or 0.06% at $1698.
  • Spot silver is trading down $0.11 or -0.43% to $25.24
  • WTI crude futures continue the rise to the upside and trades up $2.14 or 3.34% at $65.97. That is just below the high of $66.02

A snapshot of the Forex market continues to show the CHF as the strongest and the NZD as the weakest. However, each have come off their extreme levels seen near the start of the NY session. The USD is higher as well but has given up some of the gains from the start of the NY session.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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