Nathan Hager

And at the open, stocks are looking for direction.

Right now, the S&P 500 is a little changed, trading above 6,800.

The Dow Jones Industrial Average is swinging between gains and losses at the open, trading around 49,400.

And the Nasdaq Composite opens lower by about a tenth of 1%.

The 10-year Treasury yield is down three basis points after a softer-than-expected reading on inflation.

The January consumer price index fell to 2.4 percent, lower than economists expected.

The core reading that leaves out food and energy rose three-tenths of one percent from December.

That put the year-over-year reading there in line with estimates at two-and-a-half percent.

The numbers have traders raising bets for a third rate cut from the Fed this year, but Morgan Stanley Chief Investment Officer Jim Caron says he's not

there yet.

Morgan Stanley, CIO Jim Caron was on Bloomberg surveillance.

And right now, the two year Treasury yield is down more than three basis points to three point four two percent.

Shares of Alibaba traded in the U.S.

are down 3% at the open.

The Chinese e-commerce giant was just added to the Pentagon's list of firms tied to the Chinese military.

We get more from Bloomberg Tech anchor Caroline Hyde.

Bloomberg's Caroline Hyde reports other Chinese firms including Baidu, Huawei Technologies and EV makers BYD and NIO were also added to the Pentagon list.

Baidu and NIO shares traded in the U.S.

are lower as well.

The White House may be thinking of narrowing its broad tariffs on steel and aluminum.