Dow Futures Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Monday closed up +0.39%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.85%.
Stocks on Monday posted moderate gains, with the S&P 500 climbing to a 20-month high and the Dow Jones Industrials and Nasdaq 100 climbing to 1-3/4 year highs. Stocks found support Monday on expectations that U.S. consumer prices will continue to ease. Tuesday’s U.S. Nov CPI report is expected to ease to +3.1% y/y from +3.2% y/y in Oct, while Nov CPI ex-food and energy is expected to remain unchanged at +4.0% y/y. Stocks extended their gains Monday afternoon after bond yields fell back from early highs on strong demand for the Treasury’s $37 billion auction of 10-year T-notes.
The markets will look to the results of this week’s central bank meetings from the Fed, ECB, and BOE to see if policymakers support pausing their interest rate hike campaigns and when they may... Read more