S&P 500 E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is down by -0.19%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.71%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.21%.
U.S stock indexes this morning are mixed. A jump in T-note yields today has sparked stock valuation concerns and is weighing on the overall market. The 10-year T-note yield climbed to a 3-month high of 1.513%. Also, concern that an electricity crunch in China may curtail Chinese factory output and weaken the global economy is weighing on stocks today. Strength in energy stocks today is bullish for the overall market.
Today’s U.S. economic data was bullish for stocks. U.S. Aug capital goods orders nondefense ex-aircraft, a proxy for capital spending, rose +0.5% m/m, slightly stronger than expectations of +0.4% m/m.
Dovish comments today from Chicago Fed President Evans were supportive for stocks when he said, "I expect that we will need a period of sustained,... Read more