The major US stock indices opening a lower. The small-cap Russell 2000 is leading the way with a decline of near 1%. The S&P and NASDAQ indices both closed at record levels yesterday, and both are trading lower in early US trading.
A snapshot five minutes into the open is showing:
- Dow Industrial Average was -282.10 points or -0.73% at 38585.95
- S&P index -19.32 points or -0.36% at -5341.46.
- NASDAQ index -7.77 points or -0.05% at 17184.76.
The small-cap Russell 2000 is trading down -20.01 points or -0.99% at 2011.59.
Looking at some of the major movers:
- Nvidia shares are trading up $0.40 or 0.33% at $122.19. Yesterday they rose on the first day after the 10:1 stock split
- Shares of Gamestop are down another one dollar and $64 for -6.63% at $23.19. The clock is ticking for Roaring Kitty’s $20 options expiring next Friday.
- Apple shares are trading up $3.90 or 2.02% at $197. Yesterday shares fell after their World developers conference where they announce a plethora of new initiatives. Today the market is looking more favorably on the announcements.
- Microsoft’s shares are trading down -0.32%
- Amazon is up 0.20%
- Meta Platforms shares are down -0.54%
- CrowdStrike a day after being added to the S&P 500 and rising sharply, is trading down $-3.54 or -0.95% at $371.30.
Looking at the US debt market, yields are lower, taking a break from its rotation higher started after the US jobs report on Friday. The decline comes ahead of the 10 year note auction at 1 PM ET. Yesterday the U.S. Treasury auctioned off three your notes with tepid demand. A snapshot of the market currently shows:
- 2-year yield 4.857%, -2.8 basis points
- 5-year yield 4.458%, -2.5 basis points
- 10 year yield 4.453%, -1.6 basis points
- 30-year yield 4.585%, -1.0 basis points
Bitcoin is trading down sharply today at $66,963, or -3.7%. Ethereum is also sharply lower by -4.09%.
This article was written by Greg Michalowski at www.forexlive.com.
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