US stocks open lower. Down for the month.

The major US stock indices are opening lower. The higher-than-expected employment cost Index data for Q1 is a catalyst (but stocks were also lowers ahead of the release).

The decline today is congruent with the price action of this month. After five points of gains, the major indices are all lower this month.

A snapshot of the market 4-minutes into the open currently shows:

• Dow industrial average is trading down -191 points or -0.50% at 38192
• S&P index -17.41 points or -0.35% at 5098.50
• NASDAQ index -56 points or -0.35% at 15927.80

The small-cap Russell 2000 trading down -19.86 points or -0.99% at 1996.25.

For the calendar month:

• Dow Industrial Average average is down 4.0%
• S&P index is down -2.92%
• NASDAQ index is down -2.74%

Looking at the US debt market, yield or higher after the employment cost data:

• 2-year yield 5.018%, +4.5 basis points
• 5-year yield 4.701%, +6.2 basis points
• 10 year yield 4.669%, +5.7 basis points
• 30-year yield 4.778%, +4.2 basis points

looking at other markets:

• Crude is trading down -$0.57 at $82.07
• Gold is trading down -$30.58 or -1.32% at $2304.73
• Bitcoin is trading at $61,136. Below for the day reached $60,753 in early New York trading.

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