Core US PCE data came in slightly softer at 0.2% versus 0.3% (rounded). In reality, it averaged roughly between 0.2% and 0.3% plus 0.249%, skewing the rounded number to the downside (i.e. 0.2%). However, it is a good number that pushed the major indices to the upside in early trading.
A snapshot of the market five minutes into the training currently showing:
- Dow Jones Industrial Average +147.60 points or 0.39% at 38,259.09
- The S&P rose 9.51 points, or 0.18%, to 5,244.98.
- The Nasdaq index rose 2.81 points, or 0.02%, to 16,739.89 points.
The small-cap Russell 2000 is also higher. It is currently trading 7.72 points or 0.38% higher at 2064.32.
For the trading week, major indexes are heading toward a lower close after five weeks of gains:
- Dow Jones Industrial Average -2.12%
- S&P -1.09%
- NASDAQ -0.99%
It's also the end of the month and key indicators are up:
- Dow Jones Industrial Average +1.14%
- S&P +4.28%
- The Nasdaq rose 7.05%, its largest gain since November 2023
Looking at US yields, they are lower and trading at their lowest levels for the day:
- The two-year yield is 4.903%, -2.5 basis points. The two-year yield fell by -13.9 basis points this month
- The 5-year yield is 4.528%, -4.3 basis points. The yield fell -19.4 basis points this month.
- The 10-year yield is 4.504%, -4.9 basis points. The yield decreased by -18.3 basis points this month
- The 30-year yield is 4.638% -4.7 basis points. The yield decreased by -15.1 basis points this month
Consider other markets:
- Crude oil is trading at $78.07, up $0.16 or 0.21%. During the month, the price fell by -4.76% which is the biggest decline since December
- Gold is trading up $6.90, or 0.29%, at $2,350.80. During the month, gold prices rose by 2.87% (the fourth month in a row).
- Silver is trading up $0.24, or 0.77%, at $31.40. Silver had its strongest month since July 2020. Its price rose by 19.64%.
- Bitcoin is trading at $68,405. This is an increase of 12.72% during the month