Morgan Stanley earnings disappoint. Netflix after the close
The major US stock indices are now officially open and a snap shot of the major indices is pointing to the downside. Morgan Stanley soured the mood of investors after missing on the top and bottom lines. In addition more tension from Huawei has traders concerned about US/China relations.
The snapshot is now showing:
- The S&P indexes down -5 points at 2611
- The NASDAQ is down 23 points at 7013
- The Dow is down -53 points at 24153
Although lower, the indices are not as low as premarket implied levels. Better than expected claims and Philly fed business outlook numbers are helping.
In the US debt market, a snapshot has yields mostly higher and well off the lows for the day.
In the forex market, the snapshot right nows shows the GBP is the strongest. The NZD remains the weakest. The USD is higher as well on the back of the better US data today.
The GBPUSD and USDCHF are trading near highs for the day. The NZDUSD is scrapping near the bottom (see chart below). The GBPJPY ihas recovered off earlier declines and is now back up on the day (up 5 pips now and trading at the highs).
