Microsoft and the Tesla up, Facebook down sharply

The earnings after the close yesterday has sent Microsoft and Tesla up sharply, but Facebook down sharply. The coronavirus fears has added to the bearish view. As a result the major indices are opening with declines. Having said that they are off the premarket lows. So a bearish view but not the bears. Amazon will report after the close.

A snapshot of the major indices 5 minutes into the opening is showing:

  • S&P index -12.54 points or -0.3% at 3260.86
  • NASDAQ index -25.105 points or -0.27% at 9250.05
  • Dow industrial average -67.87 points or -0.24% at 28666.58

In the US debt market yields are little changed:

  • 2 year 1.4108%, -0.2 basis points
  • 5 year 1.401%, -0.4 basis points
  • 10 year 1.582%, -0.2 basis points
  • 30 year 2.051%, +1.2 basis points

In other markets:

  • Gold has turned negative and trades near the lows for the day. The price is currently trading at $1573.90, $-3 or -0.18%
  • WTI crude oil futures are trading down $0.89 or -1.65% at $52.44. The low price reached $51.92 the high price is up at $53.20

In the forex market, the:

  • GBPUSD has found resistance at the 1.3104-063 area (high spiked to 1.31082 but quickly stalled), and is now moving back below the 200 bar moving average on the 4 hour chart at 1.30855 (potential for intraday correction lower of the move higher)
  • The EURUSD has tried to build to the upside but it to found resistance at the 1.1028-316 area. The price has rotated back down to 1.10155.
  • The USDJPY continues to find support against its 100 day moving average on the downside at 108.705 today, but also has resistance against its 100 hour moving average at 109.049. That is close to the high price for the week at 109.057.
  • The NZDUSD and AUDUSD remain the weakest currencies and trade at session lows. The AUDUSD is approaching the 0.6700 level. The next target comes in at 0.66887 and the swing low from 2019 at 0.66714. The NZDUSD just fell below the 0.6500 level and is currently testing a trendline at 0.6485.. Key level for the currency pair.
nzdusd test a lower trendline