U.S. Dollar Index Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.83%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.59%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.26%.
Stocks this morning are moderately lower. Concerns that the Fed will keep its aggressive rate hike path are weighing on stock index futures on speculation that this afternoon’s minutes of the July 26-27 FOMC meeting will have a hawkish tilt. U.S retail sales data this morning was mixed for stocks.
A jump in global bond yields is weighing on technology stocks this morning. Soaring consumer prices in the UK sparked inflation concerns and pushed up bond yields. The UK 10-year Gilt yield jumped to a 1-1/2 month high of 2.307% after UK July CPI rose more than expected at the fastest pace in 40 years. The jump in European bond yields pushed T-note yields higher, and the 10-year T-note yield climbed to a 3-1/2 week high today at 2.906%.
Strength in Asian equity markets... Read more