Major US stock indices modestly higher in early US trading

<p>The major US stock indices are trading modestly higher in early US trading. The Dow industrial average is leading the way with a gain of around 0.27%. The NASDAQ index is trading above and below unchanged. A snapshot of the market 6 minutes into the open is showing:</p><ul><li>Dow industrial average up 96 points or 0.28% at 338268</li><li>S&amp;P index up 6.1 points or 0.14% of 4405.51</li><li>NASDAQ index up 3 points or 0.02% at 13663.65</li></ul><p>The small-cap Russell 2000 is up 2.39 points or 0.13% at 1867.09.</p><p>Looking at the US debt market yields remained mixed with a longer and higher and the shorter end lower:</p><ul><li>2-year yield 4.914%, -1.6 basis points</li><li>5-year yield 4.31%, -2.5 basis points</li><li>10-year yield 4.045%, -0.2 basis points</li><li>30 year yield 4.054%, +2.0 basis points</li></ul><p>in other markets:</p><ul><li>Crude oil is down $0.54 or -0.72% is $73.33. The 100-day moving average is currently at $73.79 (blue line in the chart below). The high price today reached $74 for rotating back to the downside. Staying below the 100-day moving average would give the sellers added comfort.</li></ul><ul><li>Gold is trading down $4.13 or -0.22% at $1920.93. Looking at its daily chart, the price remains above the 38.2% retracement of the move up from the September 28, 2022, low price. That level comes in at $1903.46 back on June 29 and June 30, the price dipped below that retracement level but bounced higher. On July 6, the price found support against the level (see chart below). On the top side, the 100-day moving average (blue line in the chart below at $1949.96 remains a key target to get to and through on the top side to increase the bullish bias.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.