The major US stock indices are opening lower with the S&P index trading down around 1% on the day. The gains from yesterday are being reversed. A snapshot of the market 8 minutes into the opening is showing:

  • Dow industrial average -310.14 points or -1.0% at 30709.55. Yesterday the Dow rose 197.26 points
  • S&P index -106.58 points or -0.92% 11428.44. Yesterday the S&P rose 26.56 points
  • NASDAQ index -106.58 points or -0.92% 11428.44. Yesterday the index rose 86.62 points
  • Russell 2000 is down -20.03 points or -1.11% or 1792.81.

Looking at the US rates, yields are higher with the 10 year breaking above 3.5%, and the 2 year yield testing the 4.0% once again

  • 2 year yield 3.979%, up 3.9 basis points
  • 5 year yield 3.755%, +6.7 basis points
  • 10 year yield 3.587%, +9.5 basis points
  • 30 year yield 3.596%, +7.8 basis points

In other markets:

  • spot gold is trading down $13.09 or -0.77% at $1662.55
  • spot silver is trading down $0.46 or -2.39% at $19.08
  • WTI crude oil is trading at $84.36 that's down -1.6%
  • the price of bitcoin is trading at $18,800. That is down from the early New York level at $19,230

Looking around the forex market (see the morning video for key levels in play and why):

  • EURUSD trade back down toward the 0.99515 support level
  • GBPUSD fell below the 1.1404 low from earlier in September and also the 1.1408 level which was the 2020 swing low. The current price trades at 1.1394
  • USDJPY trade back above the 143.805 level which was the high price from last Thursday's trade. The pair is moving away from its 100 and 200 hour moving averages near 143.27
  • USDCHF moves closer to its 100 day moving average at 0.9686. The high price today reached 0.96818. The current price trades at 0.9671
  • USDCAD tests its 50% retracement of the move down from the pandemic 2020 high at 1.33364. The high price just reached 1.3339, but backed off and currently trades at 1.3328. Key resistance above.
  • NZDUSD breaks below its support swing area between 0.5909 and 0.5921, and also below a downward sloping trendline near the same 0.5909 level. The current price trades at 0.5894. Risk for sellers is now a break back above 0.5921.
NZDUSD
NZDUSD trades to the lowest level since 2020