30-Year T-Bond Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is up +0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.33%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.24%.
Stocks this morning are moderately higher, with the Dow Jones Industrials posting a 3-1/2 month high. Dovish Fed comments today knocked the 10-year T-note yield down to a 2-1/4 month low and is giving stocks a boost. Stocks extended their gains after this morning’s U.S. Nov consumer confidence report came in stronger than expected.
On the negative side, Micron Technology is down more than -3% after forecasting Q1 adjusted operating expenses well above expectations. Also, Zscaler is down more than 1% after forecasting 2024 calculated billings below consensus. In addition, Morgan Stanley, Edward Lifesciences, and Shopify are down more than -1% after being downgraded.
Comments from Fed Governor Waller suggest he favors pausing Fed rate hikes when he said, "I am increasingly... Read more