The NASDAQ and S&P 500 finished 0.03% and 0.38% higher, extending their winning streak to five sessions. US Inflation data reassured the markets the Fed would start cutting rates next month. The Dow advanced 243 points (+0.61%). Up 303 points at best. Down 28 points at worst. Small firms Russell 2000 eased 0.52%, and the VIX dropped 12.53% as sentiment improved. Treasury yields were mixed. 10Y yield was little changed down 0.7bps and the 2Y yield rose 2.4bps. Markets are now pricing a 37% probability of a 50bps cut and 63% probability of a 25bps cut in September. Megacap tech stocks ended mixed Google fell 2.4% on reports the DoJ is considering breaking up the search engine. While Telsa -3.1%, Microsoft +0.7% and Nvidia +1.7%.
ASX to rise. SPI Futures up 28 points (+0.36%).
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The NASDAQ and S&P 500 finished 0.03% and 0.38% higher, extending their winning streak to five sessions. US Inflation data reassured the markets the Fed would start cutting rates next month. The Dow advanced 243 points (+0.61%). Up 303 points at best. Down 28 points at worst. Small firms Russell 2000 eased 0.52%, and the VIX dropped 12.53% as sentiment improved. Treasury yields were mixed. 10Y yield was little changed down 0.7bps and the 2Y yield rose 2.4bps. Markets are now pricing a 37% probability of a 50bps cut and 63% probability of a 25bps cut in September. Megacap tech stocks ended mixed Google fell 2.4% on reports the DoJ is considering breaking up the search engine. While Telsa -3.1%, Microsoft +0.7% and Nvidia +1.7%.
ASX to rise. SPI Futures up 28 points (+0.36%).
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Ready to invest in yourself? Join the Marcus Today community.