The major US stock indices are off to a weak start to begin the holiday shortened week. Yesterday the US markets were closed in observance of Presidents' Day.
A snapshot of the market 10 minutes into the opening is showing:
- Dow Industrial Average -303.89 points or -0.90% at 33522.81
- S&P index -34.87 points or -0.85% at 4044.23
- NASDAQ index -118.61 points or -1.01% at 11668.66
- Russell 2000, -19.91 points or -1.02% at 1926.43
in the US debt market, yields are higher:
- two year yield 4.686% +6.3 basis points
- five year yield 4.118% +8.3 basis points
- 10 year yield 3.90% +7.0 basis points
- 30 year yield 3.936% +4.7 basis points
the S&P global flash estimates for February will be released in a few minutes:
- manufacturing PMI expected of 47.1 versus 46.9 last month
- service PMI expected a 47.2 versus 46.8 last month
At 10 AM the existing home sales are expected, and 4.10 million annualized pace.
