S&P 500 E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Monday closed down -1.03%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.51%.
Stocks on Monday closed moderately lower, with the S&P 500 falling to a 3-1/4 month low and the Dow Jones Industrials dropping to a 1-3/4 year low. Higher global interest rates Monday weighed on the world’s equity markets. The 10-year T-note yield Monday rose to a 12-year high of 3.929%, the UK 10-year gilt yield jumped to a 12-year high of 4.252%, and the 10-year German bund yield rose to a 10-year high of 2.130%.
Stocks are being undercut by concern that the Fed’s resolve to fight inflation will push the U.S. economy into recession. The recession fears also hammered commodity prices, with crude falling more than -2% Monday to an 8-1/2 month low, which fueled a sell-off in energy stocks.
Monday’s U.S. economic news was bearish for stocks. The Aug Ch... Read more