The major indices are opening modestly lower in early New York trading after a choppy premarket session which saw the major indices move sharply lower before rebounding on hopes for Russia/Ukraine diplomatic solution. The markets also made it through some more hawkish comments from Feds Bullard.
A snapshot of the market seven minutes into the opening is showing:
- Dow Jones industrial average -114 points or -0.33% at 34627
- S&P index -3.65 points or -0.08% 4415
- NASDAQ index is trading up now up by about 11 points or 0.08% 13802
- Russell 2000 is also up by 5.4 points or 0.27% at 2035.62
The broader S&P index fell below its 200 day moving average on Friday and close below that level at 4453.29. The current price trading at 4413, the index remains below that key bias defining level. Stay below keeps the bears more control. Move above and there could be some additional buying.
S&P index continues to trade below its 200 D moving average