Major US indices opening in the red. Declines led by the NASDAQ index. | Forexlive

The major US stock indices are opening in the red. The declines are led by the NASDAQ index. Concerns about rates are waiting on the major indices as the expectations for a 25 basis point hike at the May Fed meeting is now up nearly 70%.

A snapshot of the market three minutes into the open currently shows:

• Dow industrial average -131.33 points or -0.31% at 33353.97
• S&P index minus 29.54.4 -0.72% at 4075.49
• NASDAQ index -124.17 points or -1.03% at 11963.79
• Russell 2000-8.12 points or -0.46% at 1746.36

some major stocks:

• Microsoft $-3.17 or -1.08%
• Apple $-3.23 or -1.97%
• Nvidia $-3.29 or -1.23%
• Meta $-3.24 or -1.52%

The earnings season gets underway on Friday with Citibank and J.P. Morgan leading the way:

• J.P. Morgan is trading down $1.04 or -0.82%
• Citigroup is trading higher by $0.17 or 0.37%

For a schedule of earnings over the next few weeks (subject to change) CLICK HERE.

In the US debt market shorter end yields are now higher:

• 2 year yield 3.980% up to 0.9 basis points
• 5 year yield 3.505% of 2.1 basis points
• 10 year yield 3.388% +0.6 basis point
• 30 year 3.588% -1.4 basis points

This week, the U.S. Treasury will auction off three year notes, along with 10 and 30 year issues (actually nine year 10 months and 29 years 10 months) starting on Tuesday with the three year note auction.