S&P unchanged. Dow down. Nasdaq up
The US stocks are opening mixed:
- The S&P is near unchanged at -0.46 points or -0.02%
- The Nasdaq is up marginally at +11.9 points or +0.15%
- The Dow is down -82 points or -0.32%
That is mixed.
Banks are lower today:
- Wells Fargo is down -0.42%
- Citigroup is down -0.38%
- B of A is down -0.36%
- JP Morgan is down -0.35%
They have been up lately as the yields moved higher in the US and the 2-10 spread widened.
Today, that is not the case. The 2 year is up 1.2 bps while the 10 year is down -0.9% (2.1 bps decline in the 2-10 spread). That has helped to weaken the financials.
Boeing is lower and helping to drag the Dow down. They reported earnings/revenues and disappointed. The stock is down -2.36%.
Some winners today:
- Twitter up 2.47%
- Alibaba up 1.84%
- Intuitive Surgical up 1.51%
- Adobe up 0.94%
- Tesla up 0.76% and just below $300 at $299.68
- Facebook up 0.66%. They report after the close.
Autos are down on the death of Fiat/Chrysler CEO Sergio Marchionne and warnings about forward earnings from GM as a result of higher costs (read tariffs):
- Fiat, -9.93%
- GM, -6.23%
- Ford, -3.12%
- Daimler -1.99%
