S&P 500 VIX Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is up +0.18%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.38%.
Stocks this morning are modestly higher even after U.S. November producer prices rose more than expected, bolstering speculation the Fed will keep monetary policy tighter for longer. U.S. Nov PPI final demand rose +7.4% y/y, above expectations of +7.2% y/y. Stock indexes recovered from their worst levels after the University of Michigan U.S. Dec consumer sentiment rose more than expected.
The stronger-than-expected U.S Nov PPI report boosted T-note yields, which weighed on stocks. The 10-year T-note yield up +7.3 bp to 3.555%. Fed officials have recently signaled that the Fed will downshift to a +50 bp rate hike at next week’s FOMC meeting after four straight +75 bp increases.
Stock indexes moved higher in overnight trading on strength in technology stocks, with Broadco... Read more