U.S. Dollar/Swiss Franc Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.11%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.42%.
Stocks this morning are mixed, with the Dow Jones Industrials falling to a 4-month low. Lower bond yields today have temporarily eased interest rate concerns and support stocks. T-note yields fell after September's monthly ADP employment report showed fewer jobs than expected, a dovish factor for Fed policy. Stock indexes fell back from their best levels as energy stocks declined after crude prices tumbled more than -3% to a 3-week low. Also, the stronger-than-expected Sep ISM services and Aug factory orders reports lifted T-note yields from their lowest levels and weighed on stocks.
The U.S. Sep ADP employment change rose +89,000, weaker than expectations of +150,000 and the smallest increase in over 2-1/2 years.
The U.S. Sep ISM services index fell -0.9 to 53.6, str... Read more