The major indices are opening up mixed. The Dow and the S&P are trading lower in early trading, but the NASDAQ is higher this despite Apples moved to the downside on the man concerns for its iPhone SE.
a snapshot of the market currently shows:
- Dow industrial average -110 points or -0.32% at 34751.16
- S&P -8.09 points or -0.18% at 4534.96
- NASDAQ index +17.21 points or 0.12% at 14186.51
- Russell 2000-4.13 points -0.20% at 2073.84
The major indices are looking for the third straight positive week. The NASDAQ index rose about 2.0% last week leading the way.
Apple shares are trading down about $1.06 or -0.62% at $173.70.
Shares of the Tesla are trading up about $49 or 4.8% at $1059.75 after reports that it is looking to split its stock.
In other markets:
- Spot gold is trading sharply lower by at $27 or -1.38% at $1930.72 on the back of a stronger dollar
- Crude oil is down sharply trading at $105.78. That's down $7.55 on the day as concerns about Shanghai lockdown pressure the demand side of the equation
The US debt market, yields are mixed:
- two year 2.313%, +3.7 basis points
- five year 2.541%, -0.8 basis points
- 10 year 2.451%, -2.4 basis points
- 30 year 2.558%, -3.1 basis points
The USD is making new highs for the day vs the GBP, CAD, AUD and NZD in the early NY trading. The USDs gains vs the JPY are being whittled away a bit as US yields move off highs. The JPY weakness is abating a bit. It is still down vs all the major currencies, but has given up some of the declines since the start of the NA session.