US indices higher but well off the pre-open implied levels

<p>It is a month end today and US stocks have enjoyed a banner month. The S&amp;P and NASDAQ index remain on track for the best month since July 2022. Incredibly the S&amp;P has not experienced back-to-back losses this month. Yesterday the index fell marginally. Having said that the market has given up most of the pre-market gains in the broader indices.</p><p>A snapshot of the markets 9 minutes into the open is showing:</p><ul><li>Dow industrial average is up 193.85 points or 0.55% at 35624.28</li><li>S&amp;P index is down -1.04 points or -0.02% at 4549.53</li><li>NASDAQ index is down -18.65 points or -0.13% at 14239.84</li></ul><p>The small-cap Russell 2000 is trading up 3.75 points or 0.21% at 1807.52.</p><p>Salesforce is helping to support the Dow industrial average as it reported better-than-expected earnings yesterday. It shares are up $21.20 or 9.1% at $251.60.</p><p>It is month end, and the major indices are higher:</p><ul><li>Dow industrial average is up 7.8% currently which is the largest gain since October 2022</li><li>S&amp;P index is up 8.43% which is its largest gain since July 2022.</li><li>NASDAQ index is up 10.70% which is its largest gain since July 2022</li></ul><p>Looking at the US debt market:</p><ul><li>2 year yield 4.703%, +5.3 basis points</li><li>5 year yield 4.294% +7.5 basis points</li><li>10 year yield 4.341% +7.1 basis points</li><li>30 year yield 4.499% +4.9 basis points</li></ul><p>For the month, yields are sharply lower:</p><ul><li>2-year yield -39 basis points</li><li>5-year yield -55.4 basis points</li><li>10-year yield -58.5 basis points</li><li>30-year yield -59.2 basis points</li></ul><p>OPEC+ is said to be in agreement for another 1M barrel per day cut in addition to the 1M barrel per day cut from the Saudi's.</p>

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