NASDAQ index leads the way to the downside
The major US indices are opening the session lower. Amazon earnings-per-share disappointed (although revenues were higher) and they indicated they will be spending going forward. Amazon shares are trading down -4.78%.
A look at the major indices 6 minutes into the opening are currently showing:
- S&P index -51.55 points or -1.77% at 2860.88
- NASDAQ index -162.68 points or -1.83% at 8726.87
- Dow industrial average -384 points or -1.58% at 23961.63
In the US debt market, yields are lower but not running:
- 2 year 0.19%, -0.5 basis points
- 5 year 0.343%, -1.9 basis points
- 10 year 0.614%, -2.4 basis points
- 30 year 1.269%, -1.5 basis points
spot gold is trading down $5.00 or -0.3% at 1681.80
WTI crude oil futures are trading higher by $0.71 or 3.7% at $19.55
The Markit manufacturing PMI for April (F) is expected to come in at 36.7 versus 36.9 in the preliminary release. The data will come out at 9:45 AM ET. The ISM manufacturing index for April will be released at 10 AM ET with expectations of 36.0 versus 49.1 last month. New orders are expected to come in at 30.0 versus 42.2. Employment last month came in at 43.8 (no estimate). Construction spending for March will also be released at the top of the hour with expectations of -3.5% versus -1.3% last month.
