Australian Dollar Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is up +0.44%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.34%.
U.S stock indexes this morning are moderately higher, with the S&P 500 at a 5-week high, the Dow Jones Industrials at a 1-1/2 month high, and the Nasdaq 100 at a 1-month high. Positive Q3 earnings results are lifting stocks today. A +2% jump in Travelers today is leading insurance stocks higher after the company reported strong Q3 earnings results. A slight negative for stocks was today’s data that showed weaker-than-expected U.S. Sep housing starts and building permits
Today’s U.S. housing data was bearish for stocks. Sep housing starts unexpectedly fell -1.6% m/m to a 5-month low of 1.555 million, weaker than expectations of unchanged at 1.615 million. Also, Sep building permits, a proxy for future construction, fell -7.7% m/m to a 1-year low of 1.589 million, weaker th... Read more