Gold 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 +0.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.10%.
Stocks this morning are moderately higher, with the Dow Jones Industrials posting a 1-3/4 year high. Stocks are climbing today after a smaller-than-expected increase in Nov ADP employment bolstered speculation the Fed is done raising interest rates and will begin cutting them next year. Stocks also found support on today’s reports that showed U.S. Q3 nonfarm productivity was revised higher and Q3 unit labor costs were revised lower, dovish factors for Fed policy.
On the positive side for stocks, Campbell Soup is up more than +6% after reporting Q1 adjusted EPS above consensus. Also, airline stocks are moving higher after the International Air Transport Association (IATA) forecasted airline industry profits to reach $23.5 billion this year, more than double the prediction made i... Read more