Russell 2000 Micro Futures Market News and Commentary
The S&P 500 Index ($SPX) this morning is down -0.56%, the Dow Jones Industrials Index ($DOWI) is down -0.31%, and the Nasdaq 100 Index ($IUXX) is down -1.04%.
U.S stock indexes this morning are moderately lower. Rising global bond yields are weighing on stocks today, along with mostly weaker than expected U.S. economic data. Losses in stocks were limited after weekly U.S. jobless claims fell t a 2-1/2 month low.
A surge in global government bond yields is negative for stocks. The 10-year T-note soared to a 1-year high today of 1.491%. Also, the 10-year UK gilt yield rose to an 11-month high today of 0.817%, and the 10-year German bund yield jumped to an 11-month high of -0.221%. Finally, the Japan 10-year JGB bond yield rose to a 2-1/4 year high today of 0.154%.
Today's U.S. economic data was mostly negative for stocks. U.S. Q4 GDP was revised upward to 4.1% (q/q annualized) from 4.0%, weaker than expectations of 4.2% (q/q annualized)... Read more