The major US stock indices are trading higher despite the higher PPI data released earlier today. US CPI data will be released tomorrow at 8:30 AM.
Technically, the NASDAQ index is moving above its near converged 100/50 day moving averages. The 100 day moving average is at 13602.16. The 50 day moving averages at 13609.65.
The S&P is higher but still remains below its 100 day moving average up at 4399.19.
A snapshot of the market 12 minutes into the open is showing:
- Dow Industrial Average Bridge up 97.20 points or 0.29% at 33836.51
- S&P index up 15.74 points or 0.36% at 4373.97
- NASDAQ index up 91.48 points or 0.67% at 13654.33
Big cap stocks (most with large cash balances) are favored:
- Microsoft shares are up $3.44 or 1.05% at $331.83
- Nvidia is trading up $5.65 or 1.23% at $463.63
- Adobe off a new software release, is trading at $13.66 or 2.56% at $546.38
- Apple shares are lagging with a gain of $0.23 or 0.13%
- Meta shares are up $4.86 or 1.51% at $326.70
This article was written by Greg Michalowski at www.forexlive.com. Source