The broader US stock indices are trading higher at the U.S. open. The Dow 30 is trading marginally lower as it continues to lag.
Both the S&P and NASDAQ indices closed at record levels yesterday (4th straight for the S&P and 5th straight for the Nasdaq). The Dow Industrial Average average is still short of its all-time high close of 40,003.60 reached back on May 17.
A snapshot of the market currently shows:
- Dow industrial average is trading down -31 points or -0.08% at 39309
- S&P index up 11.15 points or 0.20% at 5585
- NASDAQ index up 72.45 points or 0.42% at 18479.80
The small-cap Russell 2000 is trading down -5.65 points or -0.28% at 2032.96
Shares of Corning are up by 1.9% as it continues its run after pre-announcing higher earnings and revenues yesterday. It is one of the new AI plays in the market.
Meta Platforms isrebounding by $7.34 or 1.43% after falling $10 yesterday.
Nvidia shares are up 2.57% as analysts raise expectations. Super Micro Computers is up 1.77% after rising yesterday.
Intel shares are up 3.05%, AMD shares are up 0.26%, and Broadcom shares are up 0.87% as chips continue do outperform
US yields are higher ahead of the Fed Chair Powell’s testimony and the 3-year note auction at 1 PM ET. The treasury will auction off 10 year notes tomorrow and 30-year bonds on Thursday. US CPI data will also be released on Thursday and will be a key influence for rates this week (PPI data will be released on Friday).
- 2-year yield 4.634%, +1.7 basis points
- 5-year yield 4.248%, +2.3 basis points
- 10 year yield 4.292%, +2.3 basis points
- 30-year yield 4.475%, +1.8 basis points
