NASDAQ pre-market gains are newly fully erased

The S&P and Dow opened lower, while the NASDAQ open higher by about 26 points. However, in the 1st few minutes of trading, the trend has been to the downside and the gains in the NASDAQ have been nearly all reversed.

A snapshot 3 minutes into the opening is currently showing:

  • S&P index, -12.11 points or -0.37% at 3271.55
  • NASDAQ index up 0.605 points or 0.01% at 9299.53
  • Dow -204.20 points or -0.71% at 28655.24

The price of Amazon which was up over $200 and overnight trading is currently up $166 or 8.88%. Earnings-per-share for Amazon beat expectations by nearly 60% after the close yesterday. Revenues were also higher than expectations.

In other markets:

  • spot gold is moving higher and up $8.20 or 0.52% $1582.50
  • WTI crude oil futures are down $0.48 or -0.92% at $51.67

in the US debt market yields are moving lower:

  • 2 year 1.377%, -3.5 basis points
  • 10 year 1.544%, -4.1 basis points
  • 30 year 2.019%, -3.1 basis points

It is month-end and also the end of the week. As a result there could be flows from rebalancing today.