The S&P 500 Index ($SPX) (SPY) today is up +0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.09%.
US stocks today gave up an early advance and turned mixed as bond yields rose and after the US manufacturing PMI fell to the lowest level in 8 months. Stocks are also being weighed down by speculation that Fed Chair Powell, in his comments at the Jackson Hole Fed symposium on Friday, will downplay the need for a 50 bp rate cut at next month’s FOMC meeting.
