2-Year T-Note Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.23%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.06%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.26%.
Stocks on Thursday posted modest gains. Stocks fluctuated on both sides of unchanged Thursday and settled slightly higher in thin summer trading, with volumes about 20% below their 30-day averages. A more than +5% jump in Cisco Systems Thursday supported the overall market after it issued an upbeat sales forecast. Also, semiconductors stocks rallied after Wolfspeed reported stronger-than-expected revenue. In addition, a more than +2% rally in crude oil prices Thursday boosted energy stocks. Finally, a decline in T-note yields was supportive for stocks, as the 10-year T-note yield fell -2.0 bp Thursday to 2.877%.
Global economic concerns and uneven U.S. economic data Thursday were bearish factors for stocks. Concerns that a slowdown in China’s economy will un... Read more