US stocks are lower. Can't ignore Netflix, but not a disaster.
Microsoft earning after the close today
The US stocks are opening in the red as traders can't ignore the surprise Netflix numbers. That stock is down -9.5% which is a big loss but still off post close overnight lows. Microsoft earnings are after the close and will be another (bigger?) barometer for the market.
Nevertheless, the intial reaction is back up and losses are being retraced.
The snapshot now is showing:
- S&P is down -2.6 points or -0.9% at 2981.83. Low reached 2977.02
- NASDAQ-9.214 points or -0.11% at 8175.99. Low reached 8151.76
- Dow -42.73 points or -0.16% at 27177.12. Low reached 27134.39
US yields are trading higher on the day after the 5 to 30 year yields fell over 5 basis points yesterday:
- 2 year 1.836%, +2.5 basis points
- 5 year 1.836%, +2.3 basis points
- 10 year 2.071%, +2.6 basis points
- 30 year 2.588%, +3.1 basis points
In other markets,
- Spot gold is down $10 or -0.70% at $1416.25
- WTI crude oil futures are trading near unchanged at $56.78