Weaker data is good for Fed ease

The gains in the pre-market trading, took a dip after the weaker ADP data, but have rebounded back higher on expectations that the Fed will ease sooner rather than later.

The snapshot of the market currently shows:

  • S&P index up 14.7 points or 0.53% at 2818.02
  • The NASDAQ up 53 points or 0.71% at 7580.48
  • The Dow is up 131 1 points or 0.52% at 25465

US yields are not ignoring the weaker data. The yield curve is getting steeper on Fed cut expectations:

  • two-year 1.794%, -8.8 basis points
  • 5 year 1.833%, -6.2 basis points
  • 10 year 2.10%, -2.7 basis points
  • 30 year 2.63%, +1.1 basis points

Gold currently trades at $1337.77, up $12.25 or 0.92%. They high reached $1344.55.