The major US stock indices are opening lower with the five-week winning streak in jeopardy.

• Dow Industrial Average is trading down 11 points or -0.03% at 36108.25
• S&P index trading down 5.73 points or -0.13% 4579.23
• Nasdaq index down -50 points or -0.34% at 14292

For the trading week:

• Dow Industrial Average is down -0.40%
• S&P index is down -0.30%
• Nasdaq index is now down -0.03% just below unchanged on week

The Magnificent 7 are trading mostly lower with Apple and Nvidia the only gainers.

1. NVIDIA (NVDA): +0.64%, +2.97 at 468.93
2. Apple (AAPL): -0.01%, -0.02 at 194.15
3. Tesla (TSLA): -0.39%, -0.94 at 241.70
4. Microsoft (MSFT): -0.40%, -1.47 at 369.48
5. Meta Platforms (META): -0.46%, -1.50 at 325.09
6. Amazon (AMZN): -0.77%, -1.13 at 145.67
7. Alphabet (GOOGL): -1.50%, -2.05 at 134.88

Lululemon announced disappointing earnings after the close. It’s stock is down -0.29% at $463.65. Broadcom (AVGO) opened higher but is now trading above and below unchanged on the day.

Looking at the US debt markets, yields are higher but after highest levels after the stronger US jobs report:

• 2-year yield 4.691% +11.2 basis points
• 5-year yield 4.225% +11.3 basis points
• 10-year yield 4.219%, +9.1 basis points
• 30-year yield 4.311%, +6.6 basis points

In other markets:

• Crude oil is up $1.32 or 1.9% at $70.64
• Spot gold is trading down $22.47 or -1.11 cent at $2005.85 as it reacts to the higher dollar and higher rates.
• Spot silver is down $0.46 or -1.98% to $23.30
• Bitcoin is trading at $43,861

The EURUSD remains below its 100-day moving average at 1.0763 and the 50% of the move up from the November 1 well at 1.0766. The price trades at 1.0745. On the downside, getting below 1.0725 should open the door and give sellers more confidence for a rotation down toward the 61.8% retracement at 1.0707. For the trading week, the EURUSD is down -1.21% as traders react to the expectations that the ECB will look to cut rates sooner and to signs of lower inflation (today German final CPI came in at -0.4%). The stronger US jobs report is also helping that bias swing and technicals have been negative with the price remaining below its 100-hour moving average (blue line in the chart below).

USDJPY traders are taking the price higher on the day with the price extending to the 61.8% retracement of the weeks trading range near 145.255 soon after the US jobs report. However, the price has since rotated back below eight swing area between 144.399 and 144.54. The 50% midpoint of the week’s trading ranges at 144.564. That level will be a barometer for buyers and sellers now.

MoneyMaker FX EA Trading Robot