Stock Market Update
30-Oct-24 12:35 ET
Equities hold up despite choppy action in Treasuries
Dow +147.56
at 42380.61,
Nasdaq +28.56
at 18741.31,
S&P +10.02
at 5842.94
[BRIEFING.COM] The equity market continues to hold up okay despite early volatility in the Treasury market.
The 10-yr yield, which hit 4.20% at its lowest level today and 4.28% at the highest level, sits at 4.24% now. The 2-yr yield, which hit 4.09% at its lowest level and 4.15% at its highest level, sits at 4.13%.
The market is reacting to a batch of solid economic data and an in-line quarterly refunding announcement. Private-sector payrolls increased by 233,000 in October (Briefing.com consensus), according to ADP, real GDP increased at an annual rate of 2.8% in the third quarter (Briefing.com consensus 3.0%), bolstered by a 3.7% increase in consumer spending, and pending home sales jumped 7.4% in September (Briefing.com consensus 2.5%).
