The major US stock indices are opening with solid gains as inflation eases. Core PCE data in the US rose 0.1% less than 0.2% expected. The year on year fell to 3.9% from 4.3% last month.
US yields are lower are helping the rebound:
- 2-year yield 5.026% -4.4 basis points
- 5-year yield 4.568% -7.5 basis points
- 10-year yield 4.519% -7.5 basis points
- 30 year yield 4.662% -6.6 basis points
A snapshot of the market 3 minutes into the open is showing:
- Dow industrial average +150 points or 0.44% at 33815
- S&P index +27.42 points or 0.63% at 4326.30
- NASDAQ index +135.11 points or 1.02% at 13336.08
For the trading week, the gains today have pushed the border indices back into positive territory:
- Dow industrial average is still down -0.52%
- S&P indexes +0.14%
- NASDAQ index is up 0.95%
The bad news is for the month of October, the S&P and NASDAQ are on pace for their worst month since December 2022. The snapshot of the month to date shows:
- Dow industrial average -2.65%
- S&P index -3.98%
- NASDAQ index -4.93%
For the 3rd quarter:
- Dow industrial average -1.69%
- S&P index -2.74%
- NASDAQ index -3.28%