US stock major indices open with gains. Can the momentum continue as earnings awaited.

<p>The major US stock indices are trading higher in early US trading.</p><p>The S&amp;P index closed below its 200-day moving average for the 2nd day in a row yesterday. That moving average is currently at 4236.94. The price is back above that moving average today. It will remain a key barometer for buyers and sellers. A snapshot of the market 8 minutes into the open is showing:</p><ul><li>Dow industrial average up at 263.59 points or 0.80% at 33200.01</li><li>S&amp;P index up 30.53 points or 0.72% at 4247.56</li><li>NASDAQ index up 92.64 points or 0.71% at 13110.97</li></ul><p> After the close, 2 of the Magnificent 7 will be reporting earnings with Microsoft and Alphabet scheduled. Microsoft shares are trading up $2.25 or 0.68% at $331.39. Alphabet is trading up to dollars or 1.47% at $138.54.</p><p>US yields are modestly higher with a flatter yield curve.</p><ul><li>2 year yield 5.090% +3.1 basis points</li><li>5 year yield 4.820% +2.7 basis points</li><li>10 year yield 4.856% +1.9 basis points</li><li>30 year yield 4.995% +0.7 basis points</li></ul><p>The yield spreads are flattening again:</p><ul><li>2 – 10 year spread reached a high of -11.4 basis points yesterday. It is back negative at -23.6 basis points currently.</li><li>2 – 30 year spread turned positive yesterday at 4.8 basis points yesterday. It is back negative by -9.2 basis points currently.</li></ul><p>Crude oil is trading down $-0.61 at $84.90. That takes a price close to the August 10 high price near $84.85. A move below that level with momentum would give sellers more confidence. There is additional support between $82.35 and $83.32.</p>

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