Nasdaq 100 Micro Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Wednesday closed down -0.72%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.50%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.21%.
Stocks on Wednesday posted moderate losses. A jump in global bond yields Wednesday weighed on the overall market. 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 2.318% 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 Wednesday at 2.915%. Weakness in semiconductor stocks weighed on the Nasdaq 100 after Analog Devices dropped more than -4% when CEO Roche said that “economic uncertainty is beginning to impact bookings.”
Stock indexes recovered from their worst levels Wednesday on the dovish minutes of the July 26-27... Read more