The major indices are opening lower, but off their premarket low levels as well. The S&P and NASDAQ are still down for the first time in four days but on track for the best week since February 2021. The Dow is on track for its best week since November 2020.
A snapshot of the market shows:
- Dow industrial average down -143.05 points or -0.41% at 34337.72
- S&P index down -10.78 points or -0.24% at 4400.88
- NASDAQ index down -35.01 points or -0.26% 13579.77
- Russell 2000 down -3.01 points or -0.15% had 2062.00
Technically, the NASDAQ index moved above its 200 hour moving average for the first time since all the way back on January 4 yesterday. The price is trading above and below that moving average today at 13544.56. The MA will be a key technical barometer going forward.
NASDAQ index traded above and below its 200 hour MA
Igo forward n other markets:
- Spot gold is trading down $11.50 or -0.59% at $1930.60
- WTI crude oil is trading up at $104.51. That's up from the settle price yesterday at $102.98
- bitcoin is trading at $40,511 which is fairly steady on the day and versus the 5 PM level yesterday
In the US debt market, the two year yield higher after Fed's Waller's hawkish comments. The yield curve get flatter with the 5-10 year yields are near parity:
- two year 1.96%, +4 basis points
- five year 2.158%, +1.2 basis points
- 10 year 2.162%, -0.12 basis points
- 30 year 2.435%, -3 point basis points