Ultra T-Bond Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is up +0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.22%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.51%.
Stocks this morning are moderately higher, with the S&P 500 climbing to a 3-3/4 month high and the Nasdaq 100 posting a 1-3/4 year high. Stocks are finding support on economic optimism after U.S.Q3 GDP was revised higher and the Q3 core deflator was revised lower, reinforcing speculation the U.S. economy is continuing to grow at a moderate pace with easing price pressures that will allow the Fed to end its interest rate hiking campaign. Lower bond yields today are also supportive for stocks, with the 10-year T-note yield falling to a 2-1/2 month low. Stocks fell back from their best levels on hawkish comments from Richmond Fed President Barkin, who said the Fed should keep the option to hike interest rates on the table.
On the positive side for stocks, NetApp is up more than +16%... Read more