The opening bell: US major indices marginally higher after PCE data

The US core PCE data came in a touch lighter at 0.2% versus 0.3% (rounded). In reality, it was nearly right in the middle of 0.2% and 0.3% add 0.249%, tilting the rounded number to the downside (i.e. 0.2%). Nevertheless, it is an okay number that has us major indices tilting to the upside in early trading.

A snapshot of the market after five minutes of training currently shows:

• Dow Industrial Average average +147.60 points or 0.39% at 38259.09
• S&P index +9.51 points or 0.18% at 5244.98
• NASDAQ index +2.81 points or 0.02% at 16739.89.

The small-cap Russell 2000 is also higher. It currently trades up 7.72 points or 0.38% at 2064.32.

For the trading week, major indices are on track for a lower close after five weeks of gains:

• Dow industrial average -2.12%
• S&P index -1.09%
• NASDAQ index -0.99%

It is month-end as well and major indices are higher:

• Dow industrial average +1.14%
• S&P index +4.28%
• NASDAQ index up 7.05% for its largest gain since November 2023

Looking at US yields,, they are lower and trading at lows for the day:

• 2-year yield 4.903%, -2.5 basis points. The 2-year yield is down -13.9 basis points this month
• 5-year yield 4.528%, -4.3 basis points. The yield is down -19.4 basis points this month.
• 10 year yield 4.504%, -4.9 basis points. The yield is down -18.3 basis points this month
• 30-year yield 4.638% -4.7 basis points. The yield is down -15.1 basis points this month

Looking at other markets:

• Crude oil is trading at $78.07 up $0.16 or 0.21%. For the month, the price is down -4.76% which is largest decline since December
• Gold is trading up $6.90 or 0.29% at $2350.80. For the month, gold prices are up 2.87% (fourth month in a row higher)
• Silver is trading up $0.24 or 0.77% at $31.40. Silver had its strongest month since July 2020. It’s price is up 19.64%.
• Bitcoin is trading at $68,405. That’s up 12.72% on the month

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