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Stocks open and move lower at the start

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Bullard comments spoke the market

The US stocks are open. Not only is it a quadruple witching hour today, but the Fed’s Bullard comments has spooked the market further. Volatility and volumes tend to increase dramatically on option/futures settlement days.

Day snapshot of the market a couple minutes into the open is currently showing:

  • S&P index -35.72 points or -0.5% of 4186.14
  • NASDAQ index -101 points or -0.71% 14060
  • Dow industrial average -321 points or -0.95% at 33501.62.

In other markets:

  • Spot gold is up $1.57 or 0.09% 1775.07. That is off the low of $1773.18
  • Spot silver is up six cents or 0.26% at $25.97. That is off its low of $25.87
  • WTI crude oil futures are down seven cents or -0.10% at $70.97. The low price reached $70.16. The high price is up at $71.12

Iin the debt market, the two year yield is higher while the 10 and 30 year yields are lower:

  • two year 0.244%, +3.4 basis points
  • five year 0.912%, +3.1 basis points
  • 10 year 1.495%, -0.8 basis points
  • 30 year 2.063%, -2.9 basis points
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