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Stocks move lower at the open

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NASDAQ down 1% in early trading

The major indices are lower with the NASDAQ index is down 1%. The Dow industrial average is down close to 300 points

A snapshot of the market currently shows:

  • Dow -304 points or -0.83% at 35328
  • S&P index -34 points or -0.76% at 4446
  • NASDAQ index -150 points or -1.0% at 14645

in other markets:

  • Spot gold is up to dollars and $0.80 or +0.16% at $1789.67.
  • Spot silver is down two cents at $23.82
  • WTI crude oil futures are trading down $0.58 a -0.87% at $66.81
  • bitcoin is up $532 at $46,463

In the US debt market, yields have reversed their early New York session declines. The 10 year yield is now up 0.5 basis points despite the weaker than expected retail sales data. The two year yield is up 0.8 basis points.

US yields

The US dollar is following the move higher in rates (and not the weaker retail sales).  It is now the strongest of the majors with the NZD  and AUD  the runaway weakest

the US dollar is the strongest

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