Major indices open with modest changes from the close yesterday

Technical Analysis

Author: Greg Michalowski | sp

US stocks mixed in early trading

The US stock market is now open for the Friday before three day Memorial Day weekend, and the major indices are trading mixed and little changed. 

The snapshot of the major indices currently shows:
  • S&P index -2.8 points or -0.10% at 2945.90
  • NASDAQ index is trading near unchanged levels at 9284
  • Dow industrial average is down -33 points or -0.13% at 24444
For the week, the major indices are all sporting decent gains:
  • Dow is up 2.95%
  • S&P is up 3.06%
  • Nasdaq is up 2.68%
The good news, is that the premarket trading for futures were lower. That may keep a lid on the indices today as there has been more of a bearish tilt (China worries). Energy, healthcare and utilities are weaker today. WTI crude oil futures are trading down -$1 or -3% at $32.87. That is hurting the energy complex.

In the US debt market yields are also trading with small changes:
  • 2 year 0.159%, -0.5 basis points
  • 5 year 0.327%, -1.1 basis point
  • 10 year 0.662%, -0.8 basis points
  • 30 year 1.380%, -0.5 basis points
Spot gold is trading up $7 or 0.41% of $1734.13
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