Major US stock indices are opening lower

The major US stock indices are opening lower led down by the NASDAQ index. A snapshot of the market currently shows:

• Dow industrial average is trading near unchanged at 39175
• S&P index is trading down 5.07 points or -0.09% at 5200.84
• NASDAQ index is trading down -56 points or -0.35% at 16183.

The small-cap Russell 2000 index is down as well after two sharp days to the downside. That index is influenced by higher rates. The index is trading down -9.05 points or -0.44% at 2055.97.

US yields are moving higher after the stronger-than-expected ADP jobs report. The ADP report tends to be weaker than the BLS non-farm payroll. As a result, traders are a bit concerned for a strong jobs report on Friday when US jobs data is released at 8:30 AM ET:

• 2-year yield 4.730%, +3.0 basis points
• 5-year yield 4.401%, +4.8 basis points
• 10 year yield 4.417%, +5.2 basis points
• 30-year yield 4.555%, +4.7 basis points

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