Reply #27: numbers and blather

[ozymandius]

11:17
Dow 13,663.31 Up 35.67 (0.26%)
Nasdaq 2,618.97 Up 14.45 (0.55%)
S&P 500 1,536.98 Up 6.36 (0.42%)
10-Yr Bond 4.935% Up 0.045
NYSE Volume 990,079,000
Nasdaq Volume 704,885,000

11:00 am : The major indices have been unable to build on early gains as the jump in long-term rates has been an impeding factor.

The 10-yr yield is up to 4.94%, but we're seeing weakness across the yield curve with the front-end (i.e., the 2-yr note) experiencing the biggest backup in yield today (+ 6 basis points to 4.97%).

Notwithstanding the favorable core-PCE reading that pointed to a moderation in inflation pressures, stronger than expected job growth and manufacturing data are feeding concerns that the Fed could possibly still raise interest rates if that growth ends up leading to a reversal in the inflation trend.

When the Fed moves again, Briefing.com believes it will be to lower rates. Nonetheless, the mere idea that another rate hike hasn't been eliminated appears to be causing some consternation among today's traders.DJ30 +19.58 NASDAQ +10.58 SP500 +4.41 NASDAQ Dec/Adv/Vol 934/1853/589 mln NYSE Dec/Adv/Vol 815/2195/323 mln