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Inventory index futures pointed to the next open Tuesday with traders nonetheless exhibiting urge for food for threat. The S&P 500 futures jumped again above the 4,000 degree as traders digested the most recent October PPI information.
Nasdaq 100 futures (NDX:IND) +3%, S&P futures (SPX) +2% and Dow futures (INDU) +1.1% have been greater.
The ten-year Treasury yield (US10Y) was down 8 foundation factors to three.77% and the 2-year yield (US2Y) was down 6 foundation factors to 4.34%. The greenback index (DXY) was additionally decrease.
“10yr US actual yields had their second largest fall because the GFC on Thursday,” Deutsche Financial institution’s Jim Reid mentioned. “Solely the preliminary covid associated fall in March 2020 beats it.”
The October Producer Value Index got here in flat for the month at +0.2% in comparison with the +0.5% consensus determine and +0.2% earlier studying.
“Most corporations promote to different corporations, so that is the worth most corporations obtain for his or her output,” UBS’ Paul Donovan mentioned. “It continues to develop notably quicker than corporations’ total wage payments. This highlights the function of revenue margins in driving inflation.”
On the similar time the New York Fed launched the Empire State Manufacturing Index for November, which got here in at 4.5, greater than the anticipated -5.
Retail earnings are additionally in focus. Residence Depot is decrease regardless of beating on the highest and backside strains.
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