US major stock indices giving up their gains

The gains in the major US stock indices have been whittled away. The NASDAQ index is now in negative territory. The Dow Industrial Average S&P index are holding onto small gains.

• Dow Industrial Average is up 30 points or 0.08%
• S&P is up 6.5 points or 0.13%
• NASDAQ index is down -3.20 points or -0.03%

The small-cap Russell 2000 is up 1.5 points or 0.8%.

Small changes in the major indices but off their highest levels of the day.

The U.S. Treasury will auction off 20-year bonds at 1 PM ET.

The Federal Reserve will release their Beige Book at 2 PM ET ahead of the FOMC rate decision on May 1.

Other events today include:

• ECBs Schnabel scheduled to speak at a 2024 EU-US symposium at 1:30 PM ET
• Later at at 5:30 PM ET, Cleveland Fed Pres. Mester is scheduled to speak
• BOE’s Baily is also scheduled to speak at 5:30 PM ET
• Fed Gov. Bowman is scheduled to speak at 7:15 PM ET

Fedspeak will go quiet at the close of business on Friday ahead of the May 1 rate decision

UPDATE: Stocks are coming under more pressure with the NASDAQ index now down -72 points or -0.46%. The S&P is down -11.09 points or -0.22%.

Yields remain lower with the 10-year down -3.1 basis points. The 2-year is down -1.3 basis points

This article was written by Greg Michalowski at www.forexlive.com.