Major indices open lower across the board led by the NASDAQ index

Technical Analysis

Author: Greg Michalowski | nasdaq

Premarket levels showed NASDAQ down 194 points, S&P down 42 points and Dow industrial average down 307 points

The major indices in the US are opening lower across the board led by the NASDAQ index. Lack of stimulus progress has pressured stocks as has concerns about global Covid. European cases are up sharply. US cases are also on the rise in most states.

A snapshot of the major indices currently shows:
  • S&P index -45 points or -1.3% at 3443.56
  • NASDAQ index -190 points or -1.62% at 11579
  • Dow industrial average -309 points or -1.08% at 28203
The major indices close lower for the 2nd consecutive day yesterday.

In other markets:
  • spot gold is down $-5.50 or -0.29% at $1896.25
  • spot silver is down $0.49 or -2.05% at $23.76
  • WTI crude oil futures are down $1.46 or -3.56% at $39.57
Note that the weekly inventory data will be released at 11 AM ET, with crude oil inventories expected to show a draw up -2100K  . Gasoline inventories are expected to show a draw up minus 1300K. The private data yesterday showed a bigger than expected drop in crude inventories of 5422K. The gasoline inventories fell by -1513K.

US yields are lower with the 10 year at -0.707%, -1.8 basis points. The 30 year is at 1.475%, -3.0 basis points.

The US dollar has gotten stronger in the early New York trading.  It remains the strongest of the majors. The AUD continues as the weakest.

The strongest and weakest currencies
For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose