The US stock indices are opening lower, with the NASDAQ index leading the way. Yesterday to start the trading week major indices were marginally higher (less than 0.1% for each of the 3 major indices). The FOMC will announce a rate decision tomorrow with expectations of no change but concerns about what the Fed may say about inflation going forward.
A snapshot of the market currently shows:
- Dow industrial average -40 points or -0.12% at 34587
- S&P index -11 points or -0.25% at 4442.64
- NASDAQ index -55 points or -0.41% at 13657
US yields have moved to the upside in early US trading:
- 2 year yield 5.088%, +2.4 basis points
- 5 year yield 4.495% +3.4 basis points
- 10 year yield 4.348% +3.0 basis points
- 30 year yield 4.222% +2.6 basis points
The price of crude oil is higher with the November contract now trading at $92.05 up $1.47.