Gold Micro Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is down -0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.28%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.03%.
U.S. stocks today are modestly lower on growth concerns, with IBM and Equifax both sharply lower after they both reported weaker-than-expected revenue estimates. A surge in inflation expectations is also weighing on stocks after the 10-year breakeven inflation rate jumped to a 9-year high today of 2.639%. Stocks recovered from their worst levels after U.S. weekly jobless claims unexpectedly fell to a 19-month low, a sign of strength in the labor market.
Thursday’s U.S economic data was mixed for stocks. On the negative side, U.S. Sep leading indicators rose by only +0.2% m/m, weaker than expectations of +0.4% m/m. Also, the Oct Philadelphia Fed business outlook survey index fell -6.9 to 23.8, weaker than expectations of 25.0.
On the positive side, U.S. weekly... Read more