Euro FX Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.14%.
Stocks this morning are mixed. Global economic concerns and uneven U.S. economic data are undercutting stocks. Concerns that a slowdown in China’s economy will undercut global growth is weighing on stocks today after Nomura joined Goldman Sachs in cutting its China 2022 GDP forecast. In addition, U.S. economic data was mixed after July existing home sales fell more than expected to a 2-year low, while the Aug Philadelphia Fed business outlook survey rose more than expected to a 4-month high.
A more than +6% jump in Cisco Systems today is pushing the Nasdaq 100 into positive territory and limiting losses in the overall market after it issued an upbeat sales forecast. Also, a decline in T-note yields is supportive for stocks, with the 10-year T-note yield down -5.1 bp today... Read more