US stocks extend to new highs

The major US stock indices are trading to new session highs. The gains are led by the Nasdaq index which is up 256 points or 1.58% at 16425.45. The S&P is up 0.86%. The small cap Russell 2000 is up 0.77%.

The gains are being helped by relief from the PPI data earlier today. The US yields have also turned negative with the 10 year down -1.4 basis points.

Fed comments have not been as hawkish which has traders wondering if maybe they are overreacting to the inflation scare.

The bullish beat goes on.

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