Stocks open lower ahead of week's Fed meeting, May CPI data

All three of the major market indices (^DJI, ^IXIC, ^GSPC) are flirting below their flatlines at Monday's market opening. The S&P 500 and the Nasdaq Composite open the week above their respective benchmark highs of 5,300 and 17,000.

The Morning Brief's Seana Smith and Brian Sozzi watch the morning's market and sector action ahead of Wednesday's Federal Reserve meeting and the latest inflation data, while Jared Blikre monitors market trends tied to events such as Nvidia's (NVDA) 10-for-1 stock split and commodity prices.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video transcript

The opening bell on Wall Street, marking a new start to the trading week.

Let's do a quick check here of the markets when you take a look at the major averages.

We're actually seeing some movement here to the downside at the Open, although not too significant, so plenty of time for things to turn around here.

If you got the S and B off just about 2/10 of a percent, you got the Dow just below the flat line.

When you take a look at that sector action that we're seeing here early.

Early action you've got energy, consumer tables, interesting moves there, just turning above into the following year of financials.

Worst performer as those opening trades shake out, but again, the big focus here one of the big focuses here for investors at the open.

It's going to be in 10 for one stock plan.

Go, go!

I promote your article real quick.

Shana Smith Great article yesterday morning on Y Finance looking at the 10 for one stocks.

But Shana, I mean, you're just killing it.

Well, thank you, but although you know, that's interesting when you when you take a look at that move because that's exactly what many of the strategist and analysts told me.

We could see a bit of selling after this happens.

But there are most of them viewing this as a buying opportunity, given some of that momentum that we certainly have seen in NVIDIA.

I mean, that's the insight, you know, you pay big money for Jared Blier is standing by with a look at the key market moves this Monday morning.

Well, thank you.

Since you got the screen right there, I'm just going to pull up NVIDIA and look at that price.

That is 1/10 of the price that we saw on Friday or there about minus about 92 basis points right here.

But I want to focus on the overall market, so I'm going to go back to the S and P 500.

Uh, all the majors are set to be down about three days in a row right now.

Not a terrible thing, but you can see the S and P 500 is right around its record highs.

Looking for some momentum in one direction or the other.

You can also see.

See, the NASDAQ is in a very similar position.

But my focus is on the tenure Tino Yield and also Bonds.

And so Friday was a huge move up on the employ situation report from a level of support.

So it looks like tenure.

Tino Yield that has some room to run here, maybe all the way up to 4.5% at least there, maybe 4.75%.

And also taking a look at the US Dollar Index that bounced off support.

So my point is that both of these markets have room to run, and that could be a headwind for equities in the very short term.

Uh, longer term, the bullish picture not changed at all.

We took a look at the sectors here.

I do want to look at the futures action, uh, silver and gold bouncing back after a terrible day on, uh, Friday.

That's live cattle.

We don't want that, but here is silver.

And let me just show you that year to date chart.

Um, just looking for fresh records, but, uh, stalling out near record highs