US major indices open lower. NASDAQ index down around 0.4% leading the way down.

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The US stock indices are opening lower, with the NASDAQ index leading the way. Yesterday to start the trading week major indices were marginally higher (less than 0.1% for each of the 3 major indices). The FOMC will announce a rate decision tomorrow with expectations of no change but concerns about what the Fed may say about inflation going forward.

A snapshot of the market currently shows:

  • Dow industrial average -40 points or -0.12% at 34587
  • S&P index -11 points or -0.25% at 4442.64
  • NASDAQ index -55 points or -0.41% at 13657

US yields have moved to the upside in early US trading:

  • 2 year yield 5.088%, +2.4 basis points
  • 5 year yield 4.495% +3.4 basis points
  • 10 year yield 4.348% +3.0 basis points
  • 30 year yield 4.222% +2.6 basis points

The price of crude oil is higher with the November contract now trading at $92.05 up $1.47.