US stock indices not looking good into the open | Forexlive
The US stocks are looking to open negative with the futures currently pricing:
- Dow down -300 points after yesterday’s 216.96 point rise
- S&P index -39 points after yesterday’s 13.56 point rise
- NASDAQ index -122 points after yesterday’s 69.43 point rise
The major indices are on winning streaks that are in threat of being broken today.
- Dow Industrial Average and the S&P have been higher for three consecutive days and four of the last five trading days
- NASDAQ index is on a five day win streak.
Coming into today, the Dow was up 1.66% for the week. The S&P has a gain of 2.26%, and the NASDAQ is up 4.09%
Tesla shares are trading down -5.93% in premarket trading on the back of a Guggenheim downgrade to sell, and announced lower prices in Europe and the US for their models.
Earnings season got underway today with a slew of financials which showed mixed results. Most of the companies who announces are lower in pre-market trading (see Adam’s post for some commentary from the companies executives by clicking HERE):
- J.P. Morgan shares are trading at $135.50 after closing yesterday $139.49
- Citigroup shares are trading at $48.72 after closing of $49.09 yesterday
- Wells Fargo is trading at $41.26 after closing at $42.83
Unitedhealth (a Dow 30 stock) also announced and it is trading lower at $489 after closing at $495.67. Delta Airlines is also lower at $37.20 after closing at $39.60.
It’s not a good start to the earnings season.