The major US stock indices are opening lower. The S&P and the NASDAQ are leading the way with declines of near -0.35%.
A snapshot of the market currently shows:
- Dow Industrial Average -41.27 points or -0.13% at 32615.44
- S&P index -12.61 points or -0.32% that 3957.55
- NASDAQ index -42.31 points or -0.37% at 11413.23
- Russell 2000-2.64 points or -0.14% at 1894.35
the NASDAQ index is sitting on the edge of a key technical level with the 38.2% retracement at 11436.5, and the 200 day moving average at 11405.85. The low price today reached 11413.01 so far.
At 9:45 AM, the S&P/global manufacturing PMI final estimate for February will be released. The estimate is 47.8. At 10 AM, the ISM manufacturing PMI is expected to come in at 48.0 versus 47.4 last month. Employment came in at 50.6 last month, and new orders were at 42.5. The price is paid was 44.5 last month and is expected at 45.1 this month.
In the US debt market, yields are higher:
- two year 4.847% +5.0 basis points
- five year 4.224% +5.6 basis points
- 10 year 3.952% +4.5 basis points
- 30 year 3.936% +0.7 basis points