Stock Market Update
17-Oct-24 12:00 ET
Rising rates limits market
Dow +149.62
at 43227.32,
Nasdaq +136.56
at 18503.64,
S&P +24.59
at 5867.06
[BRIEFING.COM] The S&P 500 trades about 20 points higher and the Nasdaq Composite trades about 100 points higher.
There's a negative bias under the index surface, though. The Invesco S&P 500 Equal Weight ETF (RSP) shows a 0.1% decline.
Buying interest has been limited due to rising market rates. The 10-yr yield is up seven basis points to 4.09% and the 2-yr yield is up four basis points to 3.98% after hitting 4.00% earlier. This price action follows some stronger than expected retail sales data for September, along with better than feared weekly jobless claims data.
