US major indices open lower. S&P below its 200 day moving average.

The major US stock indices are opening lower after giving up earlier gains. At the start of the North American session, the NASDAQ index is up around 100 points.

Currently, three minutes into the opening, the snapshot of major indices shows:

• Dow industrial average -173.69 points or -0.41% at 41738.02
• S&P index -17.11 points or -0.30% at 5597.45
• NASDAQ index -24.42 points or -0.14% at 17443.90

The S&P index closed below its 200 day moving average yesterday for the first time since November 2023. That moving average currently comes in at 5736.05.

For the NASDAQ index, yesterday the index tested it 38.2% retracement of the move up from the October 2023 low at 17268.18 and found support buyers. Moving below that level would open the door for more selling potential.