The major US stock indices are opening up mixed.
The Dow industrial average is lower as Disney shares slump and concerns about regional banking indices have traders worried about a harder landing. The KRE regional bank indexes trading down -2.78% with PacWest Bancorp shares down -28.78% at $4.33. The low price last week reached $2.48 before bouncing up to $7.50 on Monday.
The NASDAQ index is trading above and below unchanged (now lower). The S&P is lower.
A snapshot of the market is currently showing:
- Dow industrial average is trading down -267.67 points or -0.80% at 33263.67. Disney shares are trading down $7.41 or -7.33% at $93.70.
- S&P index is down -17.51 points or -0.42% at 4120.12
- NASDAQ index is a down -20.79 points or -0.17% at 12285.65
Google is fighting back against Microsoft's lead in AI. Microsoft shares are down -1.71%. Alphabet shares are up 3.02% in early trading. Yesterday Alphabet had their developers conference, and investors were impressed by their push into AI.
Looking at the US yield curve, yields are lower across the board and trading near session lows. The U.S. Treasury will auction off 30 year bonds at 1 PM ET today:
- 2 year yield 3.816% -8.7 basis points
- 5 year yield 3.286% -8.6 basis points
- 10 year yield 3.349% -8.7 basis points
- 30 year yield 3.76% -7.3 basis points