They're off! And major indices are going backwards

Technical Analysis

Author: Greg Michalowski | nasdaq

Taking it on the chin on lower global growth fears

The US stock markets are open and trading is off an running. However, they are going backwards in the first minutes of trading. The snapshot shows:
  • S&P index is down -28 points or -1.07% at 2622
  • The Nasdaq is down -89 points or -1.27% at 6979
  • The Dow is down -275 points or -1.13% at 24326.
In the US debt market, yields are lower on growth concerns (does the Fed put off hiking next week or slow 2019 expectations?)

Meanwhile, the economic news in the US today was favorable with retail sales better than expected. The industrial production numbers were also better.   They run in contrast to China retail sales which were the worst in 15 year lows. 

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