US major indices open mixed. Major indices on pace for a down week
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The major indices are opening mixed. The NASDAQ is lower. The Dow is higher. The S&P is in between but marginally lower.
The NASDAQ index is being impacted by Netflix which is down over 6.5% after reporting earnings and revenues better-than-expected but with soft guidance.
Shares of Nvidia and Super Micro Computers are also lower. Super Micro Computers set its earning date, but did not preannounce positive earnings projections. In the past they have preempted their earnings with positive comments. SMCI shares are currently down -4.4%. Nvidia shares are trading down -0.75%.
A snapshot of the market currently shows:
- Dow industrial average is trading up 100 points or 0.26% at 37878
- S&P index up 0.32 points or 0.01% at 5011.38
- NASDAQ index down -51 points or -0.33% 15551
The small-cap Russell 2000 down -3.58 points or -0.18% at 1939.34
For the trading week, the major indices are lower. The S&P is on pace for its third straight weekly decline. The NASDAQ is on its fourth week lower and largest decline since March 2023.:
- Dow Industrial Average-0.34%
- S&P index -2.26%
- NASDAQ index -3.89%
In the US debt market, yields are lower:
- 2-year yield 4.977%, -1.3 basis points
- 5-year yield 4.655%, -3.0 basis points
- 10 year yield 4.604%, -4.3 basis points
- 30-year yield 4.699%, -4.6 basis points
looking at other markets:
- Crude oil is trading down $-0.62 at $81.48.
- Gold is trading near unchanged at $2378.25
- Bitcoin is trading higher at $64,780