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US stocks trading lower in early Friday trading

Started by forex4you, Apr 30, 2022, 06:43 am

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US stocks trading lower in early Friday trading

The major indices are opening lower after Apple and Amazon disappointed with their earnings and guidance. The S&P and NASDAQ are on pace for their fourth negative week in a row.
A snapshot of the market seven minutes into the opening is showing:

    Dow industrial average -158.44 points or -0.47% at 33757.96
    S&P index -41.28 points or -0.96% at 4246.21
    NASDAQ index -118.17 points or -0.92% at 12753.36
    Russell 2000 is down 0.83 points or -0.04% 1917.11

Amazon shares are down $-326 or -11.23% at $2570. Apple shares have rebounded and trade near unchanged on the day
In other markets:

    Spot gold is trading up $9.42 or 0.50% at 1903.86
    Spot silver is trading down $0.11 or -0.51% at $23.01
    WTI crude oil is trading at $106.55. That's up $1.19 or 1.13%
    the price of bitcoin is down $643 at $39,111.71

The US debt market, the yields are shooting higher after recent declines:

    2 year yield is at 2.737%, up 11.6 basis points
    5 year yield is at 2.946%, up 10.9 basis points
    10 year yield is up 2.922%, up 9.6 basis points
    30 year yield is up 2.98% up 8.4 basis points
    2- 10 year spread is at +18.5 basis points

A snapshot of the forex market continues to show the AUD is the strongest while the USD is the weakest of the major currencies. However, the USD decline have seen some paring of the declines since the start of the North American session. 

    The strongest weakest of the major currencies

The employment cost index came in higher than expected at 1.4% versus 1.1% expected the core PCE was marginally lower than the expectations of 5.2% versus 5.3% expected. However, the rate remains well above Fed targets.Canada GDP came in better than expected for February, but it's February data.

Source: US stocks trading lower in early Friday trading
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