3-Month Eurodollar Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Friday closed up +2.47%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.76%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +3.30%.
U.S. stock indexes Friday rallied for a third day, with the S&P 500, Nasdaq 100, and Dow Jones Industrials posting 3-week highs. Strength in technology stocks Friday boosted the overall market, with Dell Technologies closing up +12% and Marvell Technology up +6% after both companies reported stronger-than-expected quarterly earnings.
U.S. stock indexes added to their gains Friday morning after U.S. Apr personal spending rose more than expected and after the Apr core PCE core deflator slowed its growth rate for a second month. On the negative side, the University of Michigan U.S. May consumer sentiment index was unexpectedly revised downward to a 10-3/4 year low.
Positive carry-over from a rally in China’s Shanghai Composite Friday was supportive for U.S. st... Read more