The S&P 500 Index ($SPX) (SPY) is down -0.05%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.15%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.06%. September E-mini S&P futures (ESU26) are down -0.11%, and September E-mini Nasdaq futures (NQU26) are down -0.12%.
Stocks fell back from early gains on the weak US retail sales and consumer sentiment reports. The weak US economic reports reduced the odds of a September Fed rate hike to 29% from 35% but also sparked worries about a weaker US economy and weaker corporate earnings. The stock market is also concerned that the 10-year T-note yield is up +3 bp today despite the weak US economic reports as inflation worries continue.
