Torsten Asmus
The major market averages opened mixed on Monday after the three major averages capped last week’s gains from favorable inflation data, while market participants looked forward to corporate earnings.
The S&P 500 (SP500) has been holding up, and it’s been the best daw (DJI) He falls 0.1%and the Nasdaq high-tech composite (NDX: IND) developed by 0.3%.
In the week, the Dow Jones rose 2.3%the best weekly gain in 4 months, the Nasdaq rose 3.3% The S&P 500 rose 2.4%.
Treasury yields fell on Monday after closing higher on Friday. Furthermore, Morgan Stanley says they expect yields to trend lower.
The yield on the 10-year Treasury note (US10Y), which affects mortgage rates, rose 1 basis point to 3.82% and the yield on the 2-year Treasury note (US2Y) rose 2 basis points to 4.77%.
As Fed officials enter the July 15 lull ahead of the July 25-26 meeting, investors will look forward to retail sales and industrial production on Tuesday and housing data on Wednesday and Thursday.
On the economic data front, the Empire State Manufacturing Index for New York State arrived. Data remained positive for the second consecutive month, coming in at +1.1% against the -3.0 consensus.
More on next week:
