The market is heading higher following better than expected job numbers this morning. The Russell 2000, which tracks small-cap stocks, is leading.

All Magnificent Seven stocks are moving higher, led by Tesla (TSLA) which is recovering from yesterday’s spat. Broadcom (AVGO) is the 2nd worst performer in the S&P 500, getting hit following its quarterly results released yesterday.

Utilities (XLU) is the only sector marginally in the red. On the other hand, Energy (XLE) is the best performing sector, getting a boost from oil prices.

The Ten-Year Treasury Yield (TNX) is up 9.2 basis points, reclaiming the 4.4% level and approaching 4.5%.

Silver Sidenote

Silver is extending its surge to thirteen-year highs as the gold to silver ratio normalizes. Silver demand is supported by its usage as a semiconductor in clean energy and AI infrastructure, while a weak dollar adds to the tail winds.