The major US stock indices are set to open lower although off the lower levels seen in early premarket US trading.
The premarket levels are showing:
- Dow -162 points
- S&P -28 points
- Nasdaq -117 points
Concerned about growth, more hawkish Fed rhetoric and higher rates are contributing to the premarket weakness. 10 year yields are up 7.9 basis points. 2 year yields are up 7.2 basis points.
Meme stocks are getting hit which is also contributed to risk off sentiment and bitcoin which is trading down at $21,500. The low price reached $21268 today.
Crude oil just spiked higher and move back above its 200 hour moving average at $90.10. Trades at $90.65. The high for the day reached $90.83.
