The S&P 500 Index ($SPX) (SPY) this morning is down -0.24%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.03%. 

Stock indexes this morning are mixed, with the S&P 500 posting a 1-3/4 month low.  Soaring bond yields are weighing on stocks as the 10-year T-note yield today climbed to a new 5-month high.  Today’s US economic news was mixed with March housing starts and building permits falling more than expected, but March manufacturing production rose more than expected.  The markets are awaiting comments early this afternoon from Fed Chair Powell.

Hawkish Fed comments pushed bond yields higher today and are weighing on stocks.  Fed Vice Chair Jefferson said, "If incoming data suggest that inflation is more persistent than I currently expect it to be, it will be appropriate to hold in place the current restrictive stance of policy for longer."   Also, San Francisco Fed President Daly said Monday evening that the... Read more