Stock Market Update

06-Aug-24 15:35 ET

Stocks slide sideways ahead of the close

Dow +549.56 at 39252.83, Nasdaq +301.26 at 16501.35, S&P +95.93 at 5282.26

[BRIEFING.COM] The stock market moved mostly sideways at the index level in recent action.

Treasuries retreated after the recent drop in market rates. The 10-yr note yield jumped ten basis points to 3.89% and the 2-yr note yield settled ten basis points higher at 3.98%. With today's action, the 10-yr yield is 25 basis points lower than last Tuesday's settlement. The 2-yr yield is 38 basis points lower than its level one week ago.

Market participants receive the following economic data on Wednesday:

7:00 ET: Weekly MBA Mortgage Index (prior -3.9%)
10:30 ET: Weekly crude oil inventories (prior -3.44 mln)
15:00 ET: June Consumer Credit (Briefing.com consensus $10.0 bln; prior $11.3 bln)