The S&P 500 Index ($SPX) (SPY) today is down -0.11%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.20%.
Stocks today are posting modest losses as they consolidate this week’s rally where the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posted new all-time highs. T-note yields are moving higher today to weigh on stocks based on hawkish comments Wednesday night from San Francisco Fed President Daly, who said there's "no sense of urgency" for the Fed to lower interest rates. Also, long liquidation and profit-taking ahead of Friday’s monthly payroll report are weighing on stocks. Today’s US economic news was mixed for stocks, with weekly initial unemployment claims climbing more than expected while the Oct trade deficit narrowed more than expected.
