No surprise. Stocks open with big declines.

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq leads the way lower. Banks hurt too

No surprise.  US stocks open with big declines.

The US major stock indices are trading near the week's lows in the process, erasing most of the move higher from yesterday. 

A snapshot a few minutes into the day is showing:

  • The S&P index is down -40.86 points or -1.4% at 2885.46
  • The Nasdaq is down -126.07 points or -1.57% at 7890.289
  • The Dow is down -381.31 points or -1.45% at 25898.60
In other markets:
  • Gold is up $13.12 or 0.87% at  $1514.67
  • Crude oil is down $-1.98 or -3.47% at $55.12
Looking at the S&P index, the index stalled near its 50 day moving average yesterday. The low so far today, is staying above the low from Monday's trade at 2873.14.

S&P index remains above Monday's low
The US yields remain well in the red with the 2-10 spread just positive:

  • 2 year, 1.591%, -7.5 basis points
  • 5 year, 1.50%, -8.3 basis points
  • 10 year 1.599%, -10.4 basis points
  • 30 year 2.046%, -11.7 bps
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