US stocks open lower but off pre-market lows

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq leads the way lower

The US major stock indices are opening lower, but off the pre-market lows for the day.  The NASDAQ leads the way to the downside.  Chip stocks are under pressure after Broadcoms earnings and warnings from China and Huawei.

A snapshot of the major indices currently shows:
  • S&P index, -721 points or -0.27% at 2883.83
  • NASDAQ index -35.384 points or -0.45% at 7801.74
  • Dow -89.43 points or -0.34% at 26017.34
IN the US debt market, yields are higher in the shorter end. The 30 year is near unchanged:
  • 2 year 1.856%, +2.1 basis points
  • 5 year 1.849%, +1.1 basis points
  • 10 year 2.099%, +0.4 basis points
  • 30 year 2.597%, -0.2 basis points
Spot gold is off its higher levels on the back of a stronger dollar. It trades at $1348.80 up $6.50 or 0.49%. The high reached $1358.38

WTI crude oil futures are down $.15 or -0.31% to $52.12

The USD is the stronget currency now after the better retail sales and industrial production data out of the US. 

The USD is the strong as currency of the day now
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