December 9, 2022

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US stocks set open lower, but off the premarket low levels

1 min read

Dow five day win streak in jeopardy

The major US stock indices are expected to open lower with the NASDAQ index leading the way (on a negative basis that is). The Dow industrial average has been up for five consecutive days. That when streak is in jeopardy. The S&P index has been up four of the last five trading days. The NASDAQ index has been alternating between up and down days over the last 10 trading sessions. Yesterday the index rose. So a decline today would continue that up and down pattern.

The futures are currently implying:

  • Dow -143 points
  • NASDAQ -118 points
  • S&P index -23 points

Near the start of the North American session those numbers were at:

  • Dow industrial average down -240¬†points
  • NASDAQ index down -146 points
  • S&P index down -34 points

The¬†10 yield is trading at 1.5994%. That’s up 1.2 basis point. The high yield reach 1.6096% after the better data

Gold is moving further to the downside and currently trades down around $31 or -1.61% at $1877.78.

WTI crude oil futures are trading up $0.20 or 0.29% at $69.03. That is off the high price of $69.40. The low price reached $68.54.

The US dollar has moved higher and is now the strongest of the major currencies. The biggest gains are versus the AUD and NZD.

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