U.S. Dollar Index Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is up +0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.22%.
Stocks this morning are moderately higher, with the S&P 500 posting a 4-1/4 month high and the Nasdaq 100 posting a 1-week high. This morning, stocks recovered early losses and moved higher after U.S. economic reports bolstered the outlook for an economic soft landing. Stocks initially moved lower as bond yield jumped after the monthly U.S. payroll report showed a larger-than-expected increase in nonfarm payrolls and an unexpected decline in the unemployment rate to a 4-month low, dampening speculation that the Fed will cut interest rates as early as Q1 next year.
However, stocks reversed and moved higher, as easing inflation expectations, and a larger-than-expected increase in the University of Michigan’s U.S. Dec consumer sentiment index improved soft-landing prospects. U.S. s... Read more