S&P 500 Utilities Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.16%.
Stocks on Tuesday settled mixed, with the S&P 500 and the Dow Jones Industrials falling to 1-3/4 year lows. Stock indexes erased early gains Tuesday and closed mostly lower after hawkish Fed comments pushed the 10-year T-note yield up to a 12-year high of 3.990%.
Stocks found some support on Tuesday’s stronger-than-expected U.S. economic news. Also, the strength in travel stocks Tuesday was positive for the overall market.
U.S. Aug capital goods new orders nondefense ex-aircraft, a proxy for capital spending, rose +1.3% m/m, stronger than expectations of +0.2% m/m and the biggest increase in 7 months.
The U.S. July S&P CoreLogic composite-20 home price index rose +16.06% y/y, weaker than expectations of +17.05% and the smallest increase in 15 mont... Read more