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The major US indices are trading higher at the start of the trading day. Retail sales were better than expectations. That might mean the Fed might lean toward a 25 basis points but it also means that the economy is not as bad as hoped.
The Dow industrial average closed at a record level yesterday and is extending that record today. The S&P all-time high close comes in at 5667.21. The high price has reached 5659.83 so far today. The NASDAQ index is up the most with a gain of 0.67% at the open, but remains well below its high closing level at 18647.45 (the high price today has reached 17744.69 so far).
A snapshot of the market five minutes into the open is showing:
The small Russell 2000 is up 17.93 points or 0.82% at 2207.10
Looking at some of the large-cap stocks (and others):
Intel announced a “slew of stuff” after close yesterday. It’s shares were up over 8% in premarket trading but is now up only 2.58% at $21.49.
This article was written by Greg Michalowski at www.forexlive.com.
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