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Barchart
Rich Asplund

Stocks See Support as Weak US Economic Reports Curb Fed Rate-Hike Expectations

United States US Federal Reserve Nasdaq Donald Trump Inflation Applied Materials Dow Jones Industrial Average Iran Oil Strait of Hormuz

The S&P 500 Index ($SPX) (SPY) is up +0.02%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.15%. September E-mini S&P futures (ESU26) are up +0.01%, and September E-mini Nasdaq futures (NQU26) are up +0.16%.

Stocks are seeing support today after odds of a September Fed rate hike dropped to 29% from 35% on Thursday due to today’s weak US retail sales and consumer sentiment reports. Still, today’s weak US reports were a negative factor for the US economy. The 10-year T-note yield is up +1 bp as inflation concerns continue.

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