Major indices open higher at the start of the day but after the JOLTs job openings came in higher than expectations and reversed a lot of the declines from last month, the gains were trimmed and the price is turned into negative territory. The NASDAQ index is the weakest of the major indices with a decline of -0.89%.
A snapshot of the market shows:
- Dow industrial average fell minus 82.14 points or -0.25% at 32650.84
- S&P index fell -15.94 points or -0.41% at 3856.03
- NASDAQ index fell -97.29 points at -0.89% at 10890.86
- The Russell 2000 of small-cap stocks bucked the trend with a gain of 4.525 points or 0.25% at 1851.38
The S&P index closed below its 100 day moving average at 3899.21 ( after trading above the moving average level early in the session. The price also failed on a break of the 50% midpoint of the move down from the August high at 3908.43.
After the close, AMD is expected to release their earnings. Also AirBNB will release.