US stocks open lower but off pre-market lows
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:
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
- 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
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.