Gold Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is up by +1.50%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +1.37%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.82%.
U.S. stock indexes this morning are moderately higher, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 all climbing to 1-week highs. Strong outlooks from retailers have eased concerns about consumer spending and are lifting the overall market. Dollar Tree is up more than +18%, and Macy’s is up more than +13% after reporting better-than-expected Q1 sales. Today’s U.S economic data was mixed for stocks.76
Stocks today also have carry-over support from Wednesday afternoon when the minutes of the May 3-4 FOMC meeting suggested the Fed will not tighten monetary policy more aggressively than already expected. The less hawkish Fed is helping to knock T-note yields lower, with the 10-year T-note yield today falling to a 6-week low of 2.702%. Homebuilding stoc... Read more