Nasdaq leading the way in key earnings week

The US major stock indices are opening lower.

  • The S&P is down by -4.5 points or -0.16% at 2868.28
  • The NASDAQ is down -19.6 points or -0.26% at 7487
  • The Dow industrial average is down -13 points or -0.04%

Apple shares are lower on more reports that production will be cut on the iPhone X. The price is down -2.09% at 167.93.

Lots of earnings this week with Boeing, AMD, Apple, Amazon, Amgen, Alphabet, Facebook, Microsoft, McDonald's. Some 120 companies will release earnings this week.

US yields are higher on the day as traders worry about the Fed raising the dot plot at their meeting on Wednesday.

There is a 27% chance that the Fed will raise 4 times in 2018 vs 10% a month ago.

A snapshot of yields now show:

  • two-year 2.136%, up 2 basis points
  • five-year 2.508%, up 3.8 basis points
  • 10 year 2.704%, 4.4 basis points
  • 30 year 2.9437%, up 3.2 basis points