US stocks are opening the day to lower with the Dow Industrial Average leading the way. Chairs McDonald’s are down -2.83% after earnings. Shares of Boeing are down -2.81% after were problems with quality control.
A snapshot of the market is showing:
- Dow Industrial Average -152.98 points or -0.40% at 38501.45
- S&P index -11.47 points or -0.23% at 4947.15
- NASDAQ index -14.68 points or -0.09% at 15614.28
the small-cap Russell 2000 is training down -23.70 points or -1.21% at 1938.99.
US yields are higher which are putting pressure on the small-cap stocks. A snapshot of the US debt yield curve shows:
- 2-year yield 4.434%, +6.5 basis points
- 5-year yield 4.076%, +8.4 basis points
- 10 year yield 4.123%, +9.2 basis points
- 30-year yield 4.313%, +8.6 basis points
The price of crude oil is a trading unchanged near $72.30.
Spot gold is down $21.16 or -1.04% at $2018.37 as it reacts to the higher yield and higher US dollar.
Bitcoin is trading fairly steady at $43,355.
At 9:45 AM, the S&P global PMI final for January will be released. The preliminary report came in at 52.3. The services preliminary came in at 52.9.
The more widely followed ISM nonmanufacturing Index will be released at 10 AM with expectations of 52.0 versus 50.5 last month.