US stock indices not looking good into the open

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US stock indices not looking good into the open

<p>The US stocks are looking to open negative with the futures currently pricing:</p><ul><li>Dow down -300 points after yesterday's 216.96 point rise</li><li>S&P index -39 points after yesterday's 13.56 point rise</li><li>NASDAQ index -122 points after yesterday's 69.43 point rise</li></ul><p>The major indices are on winning streaks that are in threat of being broken today.</p><ul><li>Dow Industrial Average and the S&P have been higher for three consecutive days and four of the last five trading days</li><li>NASDAQ index is on a five day win streak.</li></ul><p>Coming into today, the Dow was up 1.66% for the week. The S&P has a gain of 2.26%, and the NASDAQ is up 4.09%</p><p>Tesla shares are trading down -5.93% in premarket trading on the back of a Guggenheim downgrade to sell, and announced lower prices in Europe and the US for their models.</p><p>Earnings season got underway today with a slew of financials which showed mixed results. Most of the companies who announces are lower in pre-market trading (see Adam's post for some commentary from the companies executives by clicking <a href="https://www.forexlive.com/news/a-roundup-of-comments-on-the-economy-from-todays-corporate-earnings-slate-20230113/" target="_blank" rel="follow">HERE</a>):</p><ul><li>J.P. Morgan shares are trading at $135.50 after closing yesterday $139.49</li><li>Citigroup shares are trading at $48.72 after closing of $49.09 yesterday</li><li>Wells Fargo is trading at $41.26 after closing at $42.83</li></ul><p>Unitedhealth (a Dow 30 stock) also announced and it is trading lower at $489 after closing at $495.67. Delta Airlines is also lower at $37.20 after closing at $39.60.</p><p>It's not a good start to the earnings season.</p>

                This article was written by Greg Michalowski at www.forexlive.com.

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