US stocks open lower. Indices still higher on the week.

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US stocks open lower. Indices still higher on the week.

The major US stock indices are moving to the downside in early US trading. The declines are taking away from the gains this week, but major indices still are positive.

A snapshot of the market currently shows:

• Dow Industrial Average -38.07 points or -0.11% at 34869.05
• S&P index -18.23 points or -0.40% at 4486.88
• NASDAQ index -61.90 points or -0.44% at 13864.16

The NASDAQ index is trading back below its 50 day moving average at 13883.80.

The S&P index is just above its 50 day moving average at 4483.25.

For the trading week currently:

• Dow industrial average is up 0.89%
• S&P index is up 0.69%
• NASDAQ index is up 0.80%

Shares of Adobe are getting hammered with a decline of nearly 4% at $529.85 after their earnings beat expectations, but guidance disappointed for the high flyer. Shares of Adobe are up 57.31% this year.

In other markets:

• Crude oil is now trading down $0.51 or -0.57% and back below the $90 level at $89.66
• Spot gold is trading up $15.34 or 0.80% $1926.04
• Bitcoin is trading steady at $26,464

In the US debt market, yields are higher as a stock trading gets underway:

• 2 year yield is above 5% at 5.0368% up 2.3 basis points
• 5 year yield is at 4.454% up 3.5 basis points
• 10 year yield is at 4.318% up 2.8 basis points
• 30 year yield is at 4.397% up 1.3 basis points

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

Source: US stocks open lower. Indices still higher on the week.

forexlive.com