Higher levels at the open in the broader indices with the Nasdaq leading the way.

The broader US indices are trading higher at the U.S. open and the head of the PMI data:

• S&P/global manufacturing PMI for May is expected at 9:45 AM. The preliminary came at 50.9 up from 50.0 last month.
• ISM manufacturing PMI for May is expected at 49.6 versus 49.2 last month
  • Prices paid is expected of 58.5 versus 60.9 last month
  • employment last month came in at 48.6
  • new orders came in at 49.1

A snapshot of the stock market six minutes into the open is showing:

• Dow Industrial Average is trading down -18.78 points or -0.05% at 38667.55.
• S&P index is up 18.36 points or 0.35% at 5295.86.
• NASDAQ index is up one 35.81.0.81 percent at 16870.82.

The small cap Russell 2000 is up 17.56 points or 0.85% at 2087.68.

Looking at the US debt market, yields are lower:

• two year 4.866%, -2.7 basis points
• 5-year yield 4.475%, -5.1 basis points
• 10 year yield 4.461%, -5.1 basis points
• 30-year yield 4.602% -4.9 basis points

looking at some of the major movers:

• Nvidia shares are trading up 4.10%.
• Gamestop shares are only up $10.36 or 45.07% at $33.58. They were trading over $40 in premarket trading.
• Meta Platforms is trading at 1.42%
• Alphabet is trading up 0.90%
• Microsoft is trading down -0.10%
• Apple is trading up 0.61%
• Tesla is trading up 2.15%
• Paramount is trading up 7.93% after news that a deal with Larry Ellison’s Skydance is forthcoming

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