Good start ahead of Mnuchin/Powell
The US stock indices are opening higher ahead of the testimony of Mnuchin and Powell scheduled to start at 10:30 AM ET. Before that US existing home sales and return manufacturing index will be released (at 10 AM ET). Existing home sales are expected to rise to 6.0M annualized pace vs. 5.86M last month. The Richmond Fed manufacturing index is expected to dip in September to 12 from 18.
A snapshot of the markets currently shows:
- S&P index up 21 points or 0.64% to 3302
- NASDAQ index up 80 points or 0.75% at 10860
- Dow industrial average up 91 points or the 0.34% at 27238.65
US yields remain fairly stagnant with the yield changes less than 0.3 basis points across the curve (10 year up 0.3 basis points. 2 year is unchanged)