Stock Market Update
08-Nov-24 10:35 ET
Treasuries lower after consumer sentiment survey
Dow +247.56
at 43976.90,
Nasdaq -5.00
at 19264.45,
S&P +19.56
at 5992.67
[BRIEFING.COM] The market cap weighted S&P 500 trades 0.3% higher and the equal-weighted S&P 500 shows a 0.5% gain.
The preliminary University of Michigan Index of Consumer Sentiment for November jumped to 73.0 (Briefing.com consensus 70.6) from 70.5 in October. In the same period a year ago, the index stood at 61.3.
The key takeaway from the report is that the responses were tabulated before the election results and reveal that consumers were already feeling more upbeat about their income prospects and short-run business conditions.
Treasury yields moved lower in response. The 2-yr yield moved to 4.20% from 4.22% after 10:00 ET and the 10-yr yield moved to 4.27% from 4.32%.
