The markets are loving the decline in the 10-year US Treasury, which is currently at 1.53%.   That, coupled with the $1.9 trillion stimulus package, which President Biden is set to sign this afternoon, has fueled  stocks. 

The rally is pretty much across the board with Technology and Communications Services leading the way.   The Nasdaq is outperforming, up 2.6%, followed by the S&P500 and then the Dow, which both hit record highs.  Boeing (BA) hit a 52 week high and helping to power the Dow. 

WTI crude is also adding to its latest run-up, adding 2.11% to $65.11.  

Breadth is decidedly bullish, with advancers leading decliners on both the NYSE and the Nasdaq. Up volume on the Nasdaq is super impressive, 5-1 the down volume.  The number of new 52-week lows remains extremely low.

JOLTS

Job openings for January came in better than expected at 6.917 million vs the 6.6 million estimate and is inching closer to the 7 million pre-Covid level.  The largest increase was seen in the state and local government, followed by educational services, and then mining and logging. 

• New hires -110,000 to 5.31 million
• Separations -275,000 to 5.307 million