NASDAQ index the biggest decline or
The major US indices are opening down for the second consecutive day at the US open. The NASDAQ index is leading the way after CPI data has traders worried about the Fed falling behind. The two year yield is up 8.2 basis points. The the gain in the longer end of the maturity spectrum.
A snapshot of the stock market is showing:
- Dow industrial average -45 points or -0.13% at 36274
- S&P -21.5 points or -0.46% of 4663.86
- NASDAQ index down -176 points or -1.11% 15714.53
In other markets:
- Spot gold is up $29 or 1.6% at $1861
- Spot silver is up $0.70 or 2.89% at $24.98
- WTI crude oil futures are near unchanged at $84.05
- The price of Bitcoin is higher by $1200 at $68,200
In the forex, the USD moved higher initially after the CPI, but has since reversed course vs some pairs. The USDCAD has moved back below its 200 hour moving average at 1.24185 and has scooted down to 1.2390 area. The AUDUSD moved back above its 100 day moving average at 0.73728 and has moved up toward the 100 hour moving average at 0.73943. The NZDUSD is also moving up to test its 100 hour moving average at 0.71238 after breaking back above its 200 day moving average at 0.70953 (loss of credibility for the USD?)
