US stocks open higher on hope for a stimulus deal

  


NASDAQ index leads the way

The major stock indices are opening higher on hopes for a coronavirus stimulus deal. The two sides continue to talk. The “bid to offer” of the deals still seems to be wide, but the clock is ticking and hope springs eternal.

The snapshot of the market 5 minutes into the open is currently showing:

  • the S&P index up 32.2 points or 0.96% at 3395.30
  • THe NASDAQ index up 145 points or 1.3% 11312.80
  • The Dow is up 234 points or 0.85% at 28018

In other markets, the snapshot shows:

  • spot gold is up near $19 or 1.02% to $1905
  • spot silver is up $0.40 or 1.72% to $23.64
  • WTI crude oil futures are trading down $1.07 or -2.69% to $39.15

In the US debt market, yields remain higher with a marginally higher yield curve:

  • 2 year 0.132%, +0.5 basis points
  • 5 year 0.295%, +1.8 basis points
  • 10 year 0.713%, +3.0 basis points
  • 30 year 1.488%, +3.2 basis points
In the forex market, the order of strongest to weakest has been mixed up vs. the start of the New York session. The NZD is now the strongest (taking the top spot from the AUD). The JPY is the weakest taking over from the USD. The USD has moved higher helped by a break higher in the USDJPY and a break lower in the GBPUSD (on more Brexit meeting headlines).  
USD is off being the weakest.

For bank trade ideas, check out eFX Plus



Read more here