The US core and headline PCE came in as expected and the market is breathing a sigh of relief. Yields have moved lower, and that has helped to boost us stock indices at the open. A snapshot of the market currently shows:
- Dow industrial average up 118 points or 0.31% at 39069
- S&P index up 25 points or 0.50% at 5095
- NASDAQ and 130 points or 0.82% at 16078.69.
The small-cap Russell 2000 is also higher as US yields decline. It is currently up 28.26 points or 1.39% at 2068.52
some winners today include:
- Nvidia, +2.7%
- Celsius (after earnings),+5.78%
- Alphabet, +1.04%.
- AMD, +3.19%
- Intel, +1.60%
- Broadcom, +0.70%
- Arm Holding, +3.09%
- Coinbase, +2.99%
Not doing too well today:
- Snowflake -18.25%
Looking at the US debt market, yields are now lower after trading up about two – three basis points ahead of the release:
- 2-year yield 4.647% unchanged
- 5-year yield 4.265% -0.7 basis points
- 10 year yield 4.256% -1.8 basis points
- 30-year yield 4.386% -2.3 basis points