Major US stock indices open little changed after CPI data

<p>The major US indices are opening little changed. Each has been up for consecutive days with the NASDAQ index leading the way this week. Expectations for further rate hikes have contributed to the decline. However, with the stronger CPI, it will be interesting to see if there is a shift in expectations. That should be reflective in the stock market, but so far although levels are off their higher premarket levels, the price action to the downside is limited.</p><p>A snapshot of the major indices currently shows:</p><ul><li>Dow industrial average -24 points or -0.08% at 33781</li><li>S&amp;P index up 1.51 points or 0.03% at 4378.45</li><li>NASDAQ index up 17.44 points or 0.13% at 13677.11</li></ul><p>Technically, the NASDAQ index extended and closed above its 100/50 day moving averages yesterday. The 100-day moving average today is at 13612.19. The 50-day moving average is now below the 100-day moving average at 13603.34. Staying above both those moving averages gives the buyers the advantage from a technical perspective.</p><p>For the S&amp;P index, it's 100-day moving average is still above at 4401.03, while its 50-day moving average is at 4408.07.</p><p>Looking at US yields:</p><ul><li>2 year yield 5.06%, up 5.5 basis points.</li><li>5-year yield 4.635%, up 2.9 basis points</li><li>10-year yield 4.601% up 0.7 basis points</li><li>30-year yield 4.736%, unchanged.</li></ul>

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