The major US indices are opening little changed. Each has been up for consecutive days with the NASDAQ index leading the way this week. Expectations for further rate hikes have contributed to the decline. However, with the stronger CPI, it will be interesting to see if there is a shift in expectations. That should be reflective in the stock market, but so far although levels are off their higher premarket levels, the price action to the downside is limited.
A snapshot of the major indices currently shows:
- Dow industrial average -24 points or -0.08% at 33781
- S&P index up 1.51 points or 0.03% at 4378.45
- NASDAQ index up 17.44 points or 0.13% at 13677.11
Looking at US yields:
- 2 year yield 5.06%, up 5.5 basis points.
- 5-year yield 4.635%, up 2.9 basis points
- 10-year yield 4.601% up 0.7 basis points
- 30-year yield 4.736%, unchanged.