Major indices open lower as coronavirus fears resurface

Technical Analysis

Author: Greg Michalowski | sp

Dow 30 stocks lead the move to the downside.  Nasdaq 8-day winning streak in jeopardy

The major US indices are opening on the downside with the Dow 30 stocks leading the way. The NASDAQ 8-day winning streak is in jeopardy.

A snapshot of the major indices 4 minutes into the opening are showing:

  • S&P index -24.04 points or -0.77% at 3107.25
  • NASDAQ index -24.938 points or -0.25% at 10106.42
  • Dow industrial average -270 points or -1.03% at 25885.43
in the US debt market, yields remain above and below the unchange level:
  • 2 year 0.191%, +0.5 basis points
  • 5 year 0.336%, +0.6 basis points
  • 10 year 0.718%, +0.6 basis points
  • 30 year 1.487%, -0.4 basis points
Spot gold is trading down $-2.58 or -0.15% at $1765.83. The high price reached a new high going back to 2012 at $1779.53, before rotating back to the downside.

WTI crude oil futures are trading down $0.44 or -1.09% at $39.93. It's high price reached $40.54. The low price extended to $39.36.

The NZDUSD remains the biggest mover with a near -1% decline on the day.  The RBNZ kept rates unchanged.  The US dollar remains the strongest currency of the majors.

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