U.S. Dollar/Japanese Yen Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is up +0.06%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.40%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.37%.
U.S. stocks today are mixed, with the S&P 50 and Dow Jones Industrials at new record highs. Positive Q3 earnings results from American Express and Seagate Technology are supporting gains in the S&P 500 and Dow Jones Industrials, while a -10% plunge in Intel and weakness in social media stocks are dragging the Nasdaq 100 lower. Rising inflation expectations are also weighing on stocks after the 10-year breakeven inflation expectations rate rose to a 9-year high today of 2.697%.
Today’s U.S economic data was bearish for stocks after the U.S. Oct Markit manufacturing PMI fell -1.5 to a 7-month low of 59.2, weaker than expectations of 60.5.
Comments late Thursday night from New York Fed President Williams were bearish for stocks when he said asset valuations across mult... Read more