Major indices open with modest declines, with early price action above and below unchanged

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq lower

The major indices all open with modest declines, but the early price action has seen the S&P and Dow industrial average trade above and below the unchanged level. The NASDAQ index remains in the red in early trading. 

The snapshot of the market currently shows
  • S&P index +3.21 points or 0.08% at 4077.15
  • Nasdaq down 17.05 points or -0.12% at 13681.32
  • Dow up 20.34 points or 0.06% at 33450.58
in other markets as stock trading gets underway:
  • Spot gold is down seven dollars -0.4% at $1736.23. 
  • Spot silver is down $0.12 or -0.5% at $25.03
  • WTI crude oil futures are down $0.20 or -0.32% $59.13
  • bitcoin is trading down $1670 or -2.87% at $56,581
in the US debt market, yields are mixed with a steeper tilt:
  • 2year 0.152%, -0.3 basis points
  • 5 year 0.870%, -0.3 basis points
  • 10 year 1.665%, +0.9 basis points
  • 30 year 2.337%, +1.4 basis points
IN the forex, the GBP has made the biggest move in the early New York session (to the downside). The GBP is now just ahead of the AUD as the weakest of the majors. The CHF and EUR remain the strongest. The USD has strengthen in the early NY session (helped by the GBPs decline).  

US dollar remains more supportive.
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