10-Year T-Note Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.20%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.16%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.13%.
Stocks on Tuesday posted moderate gains, with the Dow Jones Industrials climbing to a 3-1/2 month high. Stocks rose Tuesday on dovish comments from Fed Governor Waller that knocked the 10-year T-note yield down to a 2-1/4 month and bolstered expectations that the Fed was done raising interest rates. Stocks also found support on the outlook for a soft landing after Tuesday’s U.S. Nov consumer confidence report came in stronger than expected.
On the negative side, chip stocks retreated Tuesday after Micron Technology forecasted Q1 adjusted operating expenses well above the consensus. Also, GE Healthcare Technologies closed down more than -4% and added to Monday’s -4% slide after UBS downgraded the stock.
Comments from Fed Governor Waller suggest he favors p... Read more