The S&P 500 Index ($SPX) (SPY) today is down -0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.30%.
Stocks today are mostly lower on some profit-taking as today’s strength in US economic news may keep the Fed from aggressively cutting interest rates. Also, long liquidation ahead of this afternoon’s speech from Fed Chair Powell is weighing on stock prices. The 10-year T-note yield rose to a 4-1/2 month high today before turning lower after weekly initial unemployment claims fell more than expected to a 5-1/2 month low, and October producer prices rose more than expected, hawkish factors for Fed policy.
