A higher open for US stocks as yields give some relief

<p>The major US stock indices are opening higher as yields provide some relief. The ADP jobs report was weaker than expectations. The BLS jobs report will be released on Friday with expectations of 170K versus 187K last month. The unemployment rate, however, is expected to dip from 3.8% to 3.7%, and average hourly earnings are expected to rise by 0.3% over 0.2%. </p><p>A snapshot of the market currently shows:</p><ul><li>Dow industrial average of 59.80 points or 0.18% at 33062.19</li><li>S&amp;P index of 14.94 points or 0.35% at 4244.40</li><li>NASDAQ index up 76.10 points or 0.58% at 13135.56</li></ul><p>Although higher, the major indices are on track for another down week:</p><ul><li>Dow industrial average is down -1.41% and on track for its 3rd down week in a row.</li><li>S&amp;P index is down -1.05%, and on track for its 5th down week in a row.</li><li>NASDAQ index is down -0.60%. The index has been down 4 of the last 5 trading weeks (last week the index eked out a small 0.06% gain).</li></ul><p>Taking a look at the US debt market:</p><ul><li>2 year yield 5.094% -6.2 basis points</li><li>10 year yield 4.75% -5.0 basis points</li><li>30 year yield 4.873% -5.2 basis points</li></ul><p>Crude oil is trading below the $87 level at $86.80 which is the lowest level since September 8. Gold is a steady with a gain of $2.01 or 0.10% at $1824.78.</p>

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