Nasdaq down the most
The US stock or opening with modest declines:
- S&P index -1.7 points or -0.06% at 2903
- NASDAQ down 16 points or -0.19% at 7994.3
- Dow down -19 points or -0.07% at 26137
In the US debt market yields are mostly higher with a steepening of the yield curve. The 2-10 units spread has moved up to 22.63 basis points versus 21.82 on Friday's close. The US 10 year is trading up at 3.0125% of 1.7 basis points on the day. The high-yield reach 3.02%. That was the highest level in 6 weeks.
In other markets as stocks get going:
- spot gold is up $7.12 or 0.60% at $1200.58
- WTI crude oil futures are up $.50 or 0.72% at $69.49
- Bitcoin on the Coinbase exchanges trading down $56 at $6445. The price over the weekend had one quick plunge below the 200 hour MA (green line) at $6399. The low today reache $6412.84. A move below the 200 hour MA would tilt the bias more to the downside. The price is currently below the 100 hour MA (blue line) at $6494.03. A move above that MA line would tilt the bias more to the upside. A battle is going on between the 100 and 200 hour MAs.
