It has to end at some point.
The Dow Industrial Average is opening lower. That index is up for 11 consecutive days. The index is lower despite 3M, Verizon, and Dow trading higher after announcing earnings. They are leading the stocks rising today in the Dow.
Boeing, Disney, and Honeywell are leading the Dow stocks to the downside in early trading.
After the close Microsoft, Alphabet, and Visa will be released to earnings.
Tomorrow, AT&T, Boeing, Coca-Cola, Hilton, General Dynamics, will all release their earnings before the open. After the close, Meta, Chipotle, ServiceNow, eBay, Mattel (on the back of the success of Barbie) will release. Of course, the Federal Reserve will announce her 25 basis point hike at 2 PM ET tomorrow. Fed chair Powell will address the press at 2:30 PM ET.
A snapshot of the market currently shows:
- Dow Industrial Average -21.50 points or -0.06% at 35389.75
- S&P index up 1.39 points or 0.03% at 4556.04
- NASDAQ index of 52.06 points or 0.37% at 14110.93
US yields are higher with one day to go before the FOMC rate decision. The Fed is expected to raise rates by 25 basis points tomorrow at 2 PM ET.
- 2 year yield 4.886%, +4.8 basis points
- 5 year yield 4.183%, +6.0 basis points
- 10 year yield 3.904%, +4.7 basis points
- 30 year yield 3.946% +2.6 basis points
Crude oil is modestly lower by $0.15.
Gold is up $5.79 or 0.30% at $1960.43.
The EURUSD is a trading to new session lows as a stocks open. The low price reached 1.1025.
