Major stock indices trading lower in early US trading | Forexlive

The declines in the major US indices are continuing today after Friday’s move lower on the back of stronger then expected US jobs, and higher yields. Yields continue to move to the upside today with the two-year trading up 11.5 basis points at 4.416%. The 10 year yield is trading up 8.7 basis points at 3.619%.

A snapshot of the market 15 minutes into the U.S. open is showing:

• Dow Industrial Average -148.22 points or -0.44% at 33777.80
• S&P index -23.49 points or -0.57% at 4113.00
• NASDAQ index -66.55 points or -0.55% at 11940.41
• Russell 2000-13.46 points or -0.68% at 1972.06

The low for the S&P index today has reached 4106.37. That is just above the 4100 level that stalled the index both on December 1 and December 13. That ceiling was broken last week on Wednesday with the price extending up to a high of 4198.44 before rotating back to the downside on Friday. Move below the 4100 level would get traders nervous about further downside potential.