US stocks open lower underpinned by rising oil prices/slower China/higher yields

Technical Analysis

Author: Greg Michalowski | stocks

Dow down -0.5% leads the way

The major US stock indices are opening lower being underpin by rising oil prices, slower China growth, and higher yields.

A snapshot of the market is showing:
  • Dow industrial average -196.05 points or -0.56% at 35098.72
  • S&P index -18.75 points or -0.42% at 4452.63
  • NASDAQ index -51.97 points or -0.35% at 14845.37
in other markets,:
  • Spot gold is trading up $1.16 or 0.07% at $1767.61. It found resistance against $1800 last week
  • Spot silver is trading down four cents or -0.17% at $23.22
  • Bitcoin is trading at $61,508
in the US debt market, the five year yield is up 4.1 basis points that 1.1634%. That is below the high 1.193%, but above the low at 1.137%. The shorter end of the curve continues to price and tightening's. Expectations are the US would start to tighten in November of next year.

US yields are higher

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