US stocks lower to start the US trading day

The bell has rung to start the US trading day, and the prices are lower. The broader S&P and NASDAQ index are both down around -0.30%. The Dow, a little less.

A snapshot of the market 5- minutes into the open is showing:

• Dow industrial average -98.53 points or -0.25% at 38787.65
• S&P index -16.54 points or -0.31% at 5336.41
• NASDAQ -56.17 points or -0.33% at 17116.95..

The small-cap Russell 2000 is down -21.50 points or -1.05% at 2027.93.

For the trading week, the major indices are still higher:

• Dow industrial average is up 0.23%
• S&P index is up 1.11%
• NASDAQ index is up 2.21%
• Russell 2000 is lower by -2.0%

GameStop shares are trading down $-2.54 or -5.46% or $44.01. The overnight stories of how Roaring Kitty would be a billionaire at the open will have to wait another hour or more (or so it seems). Shares are still up 100% this week

Yields are higher after the stronger US jobs report:

• two year yield 4.849%, +12.9 basis points
• 10 year yield 4.421%, +14.1 basis points
• 30-year yield 4.547%, +11.7 basis points.

Next week, the U.S. Treasury will auction off 3, 10, 30-year coupon issues on Monday, Tuesday, and Thursday respectively. On Wednesday, the FOMC rate decision will be announced at 2 PM ET.

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