Apple downgrade. Boeing loses big order from Saudi's. Deutshe Bank restructures
US stocks are opening lower. There is some residual disappointment from the Friday jobs report. In addition Apple was downgraded, Boeing lost a big order from Saudi Arabia and Deutsche Bank is a mess (cutting 18K jobs, getting out of equities, scaling back debt markets). All are contributing to a softer tone.
A snapshot of the major indices are showing:
- S&P index, -15.07 points or -0.50% at 2975.34
- NASDAQ index -57.705 points or -0.71% at 8104.08
- Dow -154.3 points or -0.57% at 26767.82.
Deutsche Bank shares are down -7%
Apple is trading down -1.61%
Boeing is trading down -1.15%
In other markets:
- spot gold is trading up $2.83 or 0.20% at $1402
- WTI crude oil futures are trading up $.33 or 0.56% at $57.83
In the US debt market yields are moving a little lower with the longer end down the most at -3.2 basis points. At the start of the New York session yields were near unchanged levels:
