Strong corporate earnings from Facebook and Amazon as well as Intel and Microsoft has enthused the markets as they enter the final session of the week. The Nasdaq index has really moved sharply higher as these numbers have come out and this has negated the negative influence from geopolitics.
Latest prices show that the Dow will open at 24296 down 26 , the S&P500 will open at 2672 up 5 , while the Nasdaq will open at 6758 up 107. The US Dollar index continues to move higher with the EUR at 1.2063 down 44 , the GBP down sharply at 1.3757 down 154 after weak UK growth data , and the JPY at 109.52 up 22.
Bond yields in the US continue to move higher with the 10yr peaking this week at 3.03% and currently at 2.98%.
Q1 growth numbers were just released and came out at 2.3% which was stronger than expected. This puts the US on track to grow at 3.0% by the end of year.
The Uni of Michigan Consumer Sentiment survey is due out shortly and is forecast at 97.8 , down from 101.4 previously.
Daily Chart - US Dollar Index futures - (DXc1) - Strong trend higher approaching 200 day MA