US stocks open with declines

Technical Analysis

Lots of action ahead

The US stocks are opening in the red after Pres. Trump increased tarrifs on $200B of China imports from 10% in an attempt to squeeze the country into concessions on their unfair trade policies.  Meetings will be taking place today and there is lots of headline risk from both the US and China. 

A snapshot of the markets currently are showing:

  • The S&P down -11 points or -0.40%
  • The Nasdaq down -33.5 points ro -0.42%
  • The Dow -105 points

Uber raised $8.1 billion in one of the largest public offerings ever. That valued the company at $82 billion. The IPO price was $45 which was at the low end of the $45-$50 range.  The first trade will take place on the floor of the NYSE this morning sometime. 
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