The NASDAQ index is soaring as yields back off. Durable goods were better than expected with ex Boeing numbers showing strength. The Michigan consumer sentiment came in better with inflation expectations lower than last month at 2.7% (versus 2.9%).
The NASDAQ index is now up 243 points or 1.32% at 18658.80. The index is also trading to a new all-time high at 18674.37. For the week, the index is up 0.90%. A gain will extend its up streak to seven consecutive weeks.
The S&P index is up 46.67 points or 0.80% at 5856.96. However, for the trading week and is still down -0.13%. A decline for the week would snap a six-week up streak, but there is still time to erase the small decline.
The Dow industrial average is up 196 points or 0.46% at 42568.70. It is still down -1.64% this week despite the gain.
This article was written by Greg Michalowski at www.forexlive.com. Source