Levels off the premarket implied highs
the major US stock indices are opening higher after the record/historic jobs report which showed -20.5 million jobs lost. However, the levels are lower than the premarket highs implied by the futures.
A snapshot of the major indices currently shows:
- S&P index up 30.39 points or 1.05% at 2911.58
- NASDAQ index up 61.94 points or 0.69% at 9041.60. The index remains above the closing price from 2019 at 8972.60 (keep that level mind)
- Dow is up 307 points or 1.29% at 24183
in other markets near the opening of the US stocks:
- spot gold is trading down $2.50 or -0.15% at $1713.50. It’s high price reached 1007 and $23.13 while the low extended to $1705.80.
- WTI crude oil futures is trading up $0.59 or 2.55% at $24.16. The July contract is currently up $0.76 or 3.10% at $25.60
In the US debt market yields are mostly/marginally higher on the day with the yield curve steepening. The 2 year yield is the exception as it is down by -1.1 basis point
- 2 year 0.127%, -1.1 basis points
- 5 year 0.306%, +0.1 basis points
- 10 year 0.654%, +1.3 basis points
- 30 year 1.354%, +2.5 basis points
A snapshot of the forex market currently shows that the NZD remains the strongest currency, while the JPY remains the weakest. The USD since the report has seen a rise. It is now near unchanged levels of versus the EUR and GBP and CAD.