Major US indices open up with mixed results
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The major US indices are open up with mixed results. The Dow and S&P are lower while the NASDAQ index is trading higher. The Russell 2000 which fell over 20% from its high last week is currently down as well.
This week, there will be a number of key earnings releases. AMD, Paypal, Alphabet, GM, Starbucks, Meta (Facebook), Amazon, Ford, Merck, Bristol Meyers Squibb all are scheduled to announce their quarterly earnings.
Fed’s Daly and George are expected to speak today. George will speak at 12:40 PM ET/1740 GMT.Daly will speak at 11:30 AM ET/1630 GMT. The muzzle is off the Fed after their interest decision last week. So Fed Speak will be a focus as the market debates hikes and how many and balance sheet (when and by how much).
The US jobs report will be announced on Friday with expectations for nonfarm payroll to rise by about +166K versus +199K although estimates are wide and varied. Canada will also announce their jobs report on Friday with -91.5K expected after last month’s 54.7K rise.
A snapshot of the market currently shows:
- Dow industrial average -136 points or -0.39% at 34590
- S&P index unchanged at 4431,5
- NASDAQ index +85 points or 0.62% 13857
- Russell 2000 -1 point at 1966