US stocks are targeting a lower open

<p>The major US stock indices are targeting a lower opening with the NASDAQ index leading the way. A snapshot of the implied openings from the futures shows:</p><ul><li>Dow industrial average -40 points after yesterday's rise of a 203.76 points or 0.58%</li><li>S&amp;P down&nbsp;-10.50 points&nbsp;versus yesterday's gain of 33.36 points or 0.74%</li><li>NASDAQ -64 points versus the gain yesterday of 159.05 points or 1.13%</li></ul><p>Lowe's and Best Buy&nbsp;shares are lower after Q3 revenues missed and lower guidance.</p><ul><li>Lowes shares are&nbsp;down $-7.44 or -3.64%</li><li>Best Buy shares are down $-2.71 or -3.98%</li></ul><p>Yesterday both Microsoft and Nvidia closed at record levels. Both are lower in premarket trading.</p><ul><li>Microsoft shares are trading down $-2.44 or -0.65%</li><li>Nvidia is trading down $-2.63 or -0.52%</li></ul><p>Nvidia will now to earnings after the close.<br></p><p>US yields are mixed with the five-year down -1.3 basis points, the 10-year yield is down -0.4 basis points but the 30-year is up 0.2 basis points.</p><p>Gold is up 1.1% or $21.83 at just under $2000 an ounce.</p><p>Crude oil is down&nbsp;-$0.47 at $77.38 after rising 4% on Friday and 2.25% yesterday.</p><p>At 10 AM US existing home sales will be released with expectations of 3.90 million annualized rate versus 3.96 million last month. At 2 PM today, the Federal Reserve will announce its meeting minutes. The expectations are that the meeting minutes will be a little bit more hawkish than what the market is discounting after the US CPI report from last week lessened expectations for inflation going forward.<br></p>

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