The major US indices are trading higher in early US trading. The gains were helped by the US/China meeting news, but the levels are lower than premarket levels implied by the futures.
The Dow industrial average is leading the way with a gain of 0.56%. The S&P index is up 0.47% and the NASDAQ index is up 0.40%.
Treasury Secretary Bessent will be speaking on Capitol Hill. His comments are expected to begin very shortly.
Technically, the S&P and NASDAQ indices remain just above their rising 50 hour moving average. For the S&P index the 50 arm of which is at 5596.31. The low price today raised 5613.32.
For the NASDAQ index it's 50 hour moving averages at 17622.12. They low price reached 17689.28.
Yesterday, the indices also held above the moving average which increases the levels importance from a technical perspective. If there is a break look for momentum.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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