Stock Market Update
23-Aug-24 11:35 ET
Treasury yields sharply lower after Powell comments and surge in new home sales
Dow +459.56
at 41172.34,
Nasdaq +235.61
at 17854.96,
S&P +58.55
at 5629.19
[BRIEFING.COM] Stocks moved off session lows in recent action, bringing the major indices toward early intraday highs.
Treasury yields moved sharply lower in response to Fed Chair Powell's comments and in reaction to a stronger than expected new home sales report for July. The 10-yr note yield is down five basis points to 3.81% and the 2-yr note yield is down eight basis points to 3.93%.
Separately, oil prices are surging. WTI crude oil futures trade 2.4% to $74.77/bbl.
