US stocks mixed in early trading. Nasdaq lags today as SNAP earnings a problem

The US stock market Stock Market A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don Read this Term is open and a divergence from the previous days this week, is the NASDAQ index is lower and the Dow is leading the way to the upside. The Nasdaq is being pressured by weaker earnings from SNAP (-33%) which has other ad companies like Meta (-4.7%) and Alphabet (-2.63%) moving lower as well. The Dow on the other hand is being supported from American Express who reported better earnings. Their shares are up 5.65% in early trading.

The snapshot of the market currently shows:

• Dow industrial average up 85 points or 0.27% at 32124
• S&P index down -2.7 points or -0.06% at 3996
• NASDAQ index -46 points or -0.3% at 12014.68
• Russell 2000-0.43 points or -0.02% at 1836.44

In other markets:

• spot gold is up $8 or 0.46% at $1726
• spot silver is down $0.08 or -0.43% at $18.76
• WTI crude oil is trading at $96.27 that's down $1.10
• natural gas futures are trading at $0.47 or 6.07% at $8.22. Yesterday the price briefly moved above the $8 level but backed off. Today is more momentum to the upside
• Bitcoin is trading at $23,546

In the US debt market, yields continued to move lower on concerns about slower growth ahead. Snap earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term are reminding traders that companies are cutting back. They come back when things aren't that great. The debt market is reflecting that concerned especially as the Fed is getting ready to hike rates by another 75 basis points next week.

• 2 year yield 2.987%, -10.2 basis points
• 5 year yield 2.82%, -10.4 basis points
• 10 year yield 2.79%, -8.9 basis points
• 30 year is back below the 3% level at 2.99%, -5.6 basis points

In the forex:

• EURUSD moves up to test its 100 hour moving average at 1.01962. Get above and stay above would have traders looking toward the swing area between 1.02196 and 1.02344. Stay below the 100 hour moving average and a rotation back toward the 200 hour moving average at 1.01215 is a possibility.
• USDJPY is trading at a new session low at 136.46 and is testing a key swing area between 136.3613 6.465. He level for buyers and sellers.
• GBPUSD is moving back above its 100 hour moving average at 1.1979. Stay above is more bullish. The 1.200 to 1.2005 is a key resistance target above.
• USDCHF moves to the lowest level since July 5 and approaches the 100 day moving average at 0.95999. The low price just reached 0.96188