NASDAQ index soaring and on pace for a new record close

The NASDAQ index is soaring as yields back off. Durable goods were better than expected with ex Boeing numbers showing strength. The Michigan consumer sentiment came in better with inflation expectations lower than last month at 2.7% (versus 2.9%).

The NASDAQ index is now up 243 points or 1.32% at 18658.80. The index also trading to a new all-time high at 18674.37. For the week, the index is up 0.90%. A gain with the its seventh consecutive rise.

The S&P index is up 46.67 points or 0.80% at 5856.96. However for the trading week and is still down -0.13%. That would snap a six week up streak.

The Dow industrial average is up 196 points or 0.46% at 42568.70. It is down -1.64% this week

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