Lower open for US stocks as they react to higher PPI/more Fed hikes

The major US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are opening lower as traders react to the higher-than-expected PPI and expectations for more Fed hikes. The Fed's Mester is starting the Fed The Fed "The Fed" is a short-hand that refers to the Federal Reserve or Federal Reserve System, the central banking system of the United States. Traders often discuss the actions of the Fed, primarily interest rate decisions, as they significantly impact all financial markets.The Fed shouldn't be confused or substituted with the term "the Feds" and doing so tells everyone you're a total noob. The term "the Feds" refers to US Federal law enforcement, including such agencies as the FBI (Federal Bureau of "The Fed" is a short-hand that refers to the Federal Reserve or Federal Reserve System, the central banking system of the United States. Traders often discuss the actions of the Fed, primarily interest rate decisions, as they significantly impact all financial markets.The Fed shouldn't be confused or substituted with the term "the Feds" and doing so tells everyone you're a total noob. The term "the Feds" refers to US Federal law enforcement, including such agencies as the FBI (Federal Bureau of Read this Term speak today with a more hawkish tone.

The declines in the stocks are being led by the NASDAQ index which is currently down -1.3%. The S&P index is down over 1%.

A snapshot on the market currently shows:

• Dow Industrial Average -282.91 points or -0.83% at 33845.15
• S&P index -46.14 points or -1.11% at 4101.47
• NASDAQ index -160.89 points or -1.33% at 11909.70
• Russell 2000 down -23.52 points or -1.20% at 1937.44

Looking at the US debt market yields are higher:

• two year yield 4.657% +3.0 basis points
• five year yield 4.072% +3.4 basis points
• 10 year note 3.851% +4.4 basis points
• 30 year bond 3.867% +4.5 basis points

In the forex, the US dollar is the strongest of the major currencies. The AUD is the weakest.

In Australia, the employment data was weaker than expectations. The initial move was to the downside but then snapped back higher before rotating back to the downside held by the stronger dollar in the early US session. The AUDUSD is trading to a new session low and looks to test the low price from last week at 0.6855. The low price just reached 0.68634. At the high today, the pair successfully tested the 100 and 200 hour moving averages and found willing sellers (see blue and green lines in the chart below).