Nasdaq, stocks open higher as metal prices dip

US stocks perked up at Tuesday's market open, with the Nasdaq Composite (^IXIC) already seeing an upside of over 0.8%. Federal Reserve officials are convening in Washington, D.C., as part of their two-day FOMC meeting before announcing a new interest rate decision tomorrow, Wednesday, Sept. 18.

Jared Blikre joins Brad Smith in examining the morning market moves while also eyeing the US dollar index (DX-Y.NYB) as well as gold (GC=F) and silver (SI=F) prices in the commodities space.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Transcripción del vídeo

That is the opening bell.

You are watching morning brief brought to you by Invesco.

You've got a EO American Eagle Outfitters ringing the opening bell at the nyse and you got data dog, all the, all the dogs, data dog up on the podium there ringing the opening bell here.

All right, trading has commenced here on the day.

You got two great bell ringers.

Let's do a quick check of the markets here as we take a look at the Dow Jones industrial average right now beginning the day higher by about one 10th of a percent the NASDAQ composite.

You're seeing that see some gains here as things start to calibrate and the S and P 500.

You're seeing that with some gains as well.

So it looks like we've got a little bit of a trifecta coming out the gate.

We'll populate this.

Give you a two day look just so you can get some lines up on this chart.

And then additionally, just briefly before we toss things to our own Jared Blier.

Let's take a look at that sector activity as like we like to always do technology right now.

That's leading the pack to begin today's trading activity out of the gate.

You're seeing that up by a little more than 1% right now.

Pulling up the caboose though.

You've got health care that's down about about 4/10 of a percent.

And just lastly here, a look at the dow components, 30 dow components.

We got them here for you up on the screen.

It looks pretty mixed here on the day.

You got gains in Microsoft right now.

You got gains in Amazon.

You got a little bit of a smidge of a decline here as I Os 18 is trending on X or Twitter this morning, Sean.

I cannot wait for my phone battery to just be blasted by any update that comes through and it will be.

Don't you worry there, Brad, just give it some time, right.

Let's kick it over to Jared.

Have a closer look at some of the movement that we're seeing here at the open Jared.

Well, thank you, Shana.

I am looking at the US dollar index which is bouncing but just ever so slightly up a whopping one basis point off of potential support.

I'm going to put some lines on this chart and give you a three year look.

So you can see we are right at the bottom end of this trading range that persisted for about two years and I thought we might have gotten a little bit of a lift off.

We haven't done that so far, but we've still respected these levels.

So this support area of about 100.50 is still in play and we'll have to watch and see how that plays out in the market.

And we also want to take a look at gold futures.

Those have been on the move recently.

You can see up almost 50% over the last three years this year alone, the gold futures up 26%.

I, I don't believe we have another record today just yet.

You can see we're down fractionally, I'll give you the overnight view.

Uh But we've definitely seen activity pick up without any real catalyst here and just back to our prior dollar uh discussion.

If the dollar does break through that support line, that would just be an incredible catalyst for a further boost there in gold and might as well bring up silver as well.

There's a lot of excitement over silver.

Uh A lot of activity in the call options last week that kind of attracted people's attention.

I'm gonna give you a 20 year chart of uh silver futures here.

I'll put some candlesticks on and you can see what traders are getting excited about.

It's this giant cup and handle pa uh pattern that could see a breakout.

But this pattern being over 10 years old, uh could take a while to develop and we'll have to see if it gains any momentum.

But right now, uh we are seeing some interest in silver.

This is a year to date.

Look and you can see we've got a little bit of a flag right here that we just broke out of.

So on a very short term basis, we have just turned bullish on the technicals there in silver.

Finally, I want to wrap it up with the sector action one more time.

Brad did an excellent job.

Looks like consumer discretionary has taken the pole position that's up to, that is edged out tech also communication services up half a percent, all three of those outperforming.

That means the mega caps are in charge today.

Health care staples.

The only sectors in the red right now.