Ultra 10-Year T-Note Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Friday closed up +0.25%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.96%.
Stocks on Friday recovered from early losses and closed moderately higher, with the S&P 500 posting a 6-week high, the Dow Jones Industrials posting a 1-1/2 week high, and the Nasdaq 100 soaring to a 4-1/2 month high. Stocks found support Friday after U.S. economic reports showed an easing of price pressures and inflation expectations, which bolsters the case for the Fed to slow its pace of interest rate hikes. The Dec PCE core deflator posted its smallest annual increase in 14 months, and the University of Michigan U.S. Jan 1-year inflation expectations fell to a 1-3/4 year low.
Stock indexes raced to their highs Friday afternoon when Lucid Group surged +43% to lead a rally in electric vehicle stocks after a Betaville report said the Public Investment Fund, which inve... Read more