Stock Market Update
01-Aug-24 12:05 ET
Yields and stocks lower after data
Dow -464.04
at 40378.55,
Nasdaq -240.53
at 17358.87,
S&P -48.63
at 5473.67
[BRIEFING.COM] Things are little changed at the index level in recent action.
Treasuries are near intraday low yields, but that hasn't translated into support for equities. This price action follows weaker-than-expected economic data this morning, which stirred worries about the Fed waiting too long to cut rates. The 10-yr note yield is down 12 basis points to 3.99% and the 2-yr note yield is down 15 basis points to 4.19%.
Oil prices also pulled back after this morning's data, reflecting concerns about demand. WTI crude oil futures are down 1.0% to $77.16/bbl.
