30-Year T-Bond Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Friday closed up +0.59%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.82%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.31%.
Stocks on Friday posted moderate gains, with the S&P 500 climbing to a 4-month high and the Dow Jones Industrials climbing to a 1-3/4 year high. Stocks rallied after Friday’s weaker-than-expected U.S Nov ISM manufacturing index knocked bond yields lower and bolstered expectations that the Fed is finished raising interest rates. Stocks rallied even after Fed Chair Powell said it was “premature” to speculate on when the Fed would begin cutting interest rates.
On the positive side, real estate investment trusts rallied Friday on expectations the Fed is done raising interest rates and would begin cutting rates as early as next year. Also, Ulta Beauty closed up more than +10% after reporting stronger-than-expected Q3 net sales. In addition, Paramount Global closed up mo... Read more