Stock Market Update
25-Nov-24 15:35 ET
Treasury yields drop sharply after Treasury Secretary nomination
Dow +398.44
at 44694.95,
Nasdaq +37.56
at 19041.24,
S&P +14.58
at 5983.93
[BRIEFING.COM] The three major indices show gains ranging from 0.2% to 0.9% heading into the close.
Treasury yields settled sharply lower, emboldened by news of what is thought to be a capable nominee to lead the Department of the Treasury. The 10-yr yield dropped 15 basis points to 4.27% and the 2-yr yield dropped ten basis points to 4.27%. Also, the U.S. Treasury kicked off this week's note auction slate with a stellar $69 bln 2-yr note offering.
Looking ahead, Tuesday's economic calendar features:
- 9:00 ET: September FHFA Housing Price Index (prior 0.3%) and September S&P Case-Shiller Home Price Index (Briefing.com consensus 4.7%; prior 5.2%)
- 10:00 ET: November Consumer Confidence (Briefing.com consensus 113.0; prior 108.7) and October New Home Sales (Briefing.com consensus 718,000; prior 738,000)
