US stocks trading higher despite the higher PPI data

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 Source