Major US stock indices open with modest gains. Intel slashes dividend. | Forexlive
The major US stock indices are opening with modest gains after yesterday’s sharp declines saw the indices closed down -2% to -2.5%.
A snapshot of the market three minutes into the open is showing:
- Dow Industrial Average up 63.94 points or 0.19% at 33193.54
- S&P index up 8.64 points or 0.22% of 4005.99
- NASDAQ index of 55.62 points or 0.48% at 11547.92
- Russell 2000 is up 8.10 points or 0.43% 1896.31
Intel in premarket trading announced a 66% cut in their dividend and said they would not increase capital expenditures until they started to get more orders. Intel stock is trading up $0.32 at $26.39 in early trading
The NASDAQ index is getting closer to its 200 day moving average at 11410.41. The price had been above that moving average since late January. It move below would be more bearish.
The Dow Industrial Average yesterday closed below its closing level for the end of 2022 at 33147.25. The current prices back above that level in early US trading.
In the US debt market, yields are lower after the sharp rises seen yesterday where the 5-year yield rose around 10 basis points in the 10-year yield rose around 11 basis points:
- 2 year yield 4.674% -2.9 basis points
- 5 year yield 4.135% -3.8 basis points
- 10 year yield 3.91% -3.2 basis points
- 30 year yield 3.941% -3.4 basis points
There are no economic data coming out today. The U.S. Treasury will auction off ivory notes at 1 PM ET.