Stock Market Update
22-Aug-24 09:21 ET
Equity futures, Treasury yields little changed after jobless claims data
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +15.00. Nasdaq futures vs fair value: +88.00.
The S&P 500 futures are up 15 points and are trading 0.2% above fair value, the Nasdaq 100 futures are up 88 points and are trading 0.4% above fair value, and the Dow Jones Industrial Average futures are up 60 points and are trading 0.1% above fair value.
Initial jobless claims for the week ending August 17 increased by 4,000 to 232,000 (Briefing.com consensus 225,000) and continuing jobless claims for the week ending August 10 increased by 4,000 to 1.863 million.
The key takeaway from the report is that it won't alter the market's rate cut view or the inclination to think the economy can avoid a hard landing.
Treasury yields, which were already higher, were little changed by the data. The 10-yr note yield is at 3.83%, up five basis points from yesterday. The 2-yr note yield is at 3.97%, up five basis points from yesterday.
