Major US stock indices erase declines and trade in positive territory

Major US stock indices have erased earlier declines in trade in positive territory. The S&P index is probably up 4.78 points or 0.09% at 5312.87. It is above its all-time high closing level of 5308.14.

The NASDAQ index which closed at a record level yesterday is currently up 3.01 points or 0.02% at 16797. Anything positive today would be a new record for that index.

The Dow Industrial Average averages also higher by about 30 points or 0.08% at 39837. Getting above the 40,003 level would be a new record for that index.

Shares of Nvidia are now trading unchanged at $947.82. It was down as much as $16 at session lows ($931.80). A close above $950 and change, would be a new all-time high close for that stock. Nvidia will announce their earnings after the close tomorrow and needless to say, will be a key barometer for the stock market in the short term at least.

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