S&P 500 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) this morning is down -0.52%, the Dow Jones Industrials Index ($DOWI) is up +0.21%, and the Nasdaq 100 Index ($IUXX) is down -1.33%.
U.S stock indexes this morning are mixed. Stocks are being undercut by higher T-note yields and a slump in technology stocks. Also, today's weaker-than-expected U.S. economic data was bearish for stocks. The Dow Jones Industrials index is higher today on strength in energy and bank stocks.
Rising inflation expectations today are pushing T-note yields higher and are weighing on stock prices. The 10-year breakeven inflation expectations rate today climbed to a 2-week high of 2.234%, which has pushed the 10-year T-note yield up +9.3 bp to 1.484%.
Today's U.S economic data was negative for stocks. The U.S. Feb ADP employment report rose +117,000, weaker than expectations of +205,000. Also, the Feb ISM services index fell -3.4 to a 9-month low of 55.3, weaker than expectations of unchange... Read more