Dow stocks lead the declines
The major US indices are opening sharply lower to start the week. Concerns about getting through the next stimulus program, reigniting of Covid, banking concerns are all weighing on equities this morning. A snapshot of the major indices currently shows:
- Dow industrial average -468 points or -1.68% at 27196
- S&P index -46 points or -1.4% at 3272.70
- NASDAQ index -136 points or -1.27% at 10656
US yields are also trading lower with a flatter yield curve. The 2 – 10 year spread is down to 52.78 basis points from 55.46 basis points at the close on Friday. A snapshot of the yield curve currently shows:
- Spot gold is trading down $32 or -1.66% at $1918.80.
- Spot silver is down $0.74 or -2.8% at $26.03
- WTI crude oil futures are trading down $1 or -2.41% of $40.11
