Stock Market Update
02-Jan-25 10:35 ET
Treasury yields move slightly higher and stocks move lower
Dow +42.86
at 42587.08,
Nasdaq +43.50
at 19354.29,
S&P +13.85
at 5895.48
[BRIEFING.COM] The market moved a little lower at the index level in recent trading. Downside moves coincided with Treasury yields moving a little higher.
The 10-yr yield moved from 4.53% to 4.55% in response to the latest US economic data.
Total construction spending was unchanged month-over-month in November (Briefing.com consensus 0.2%) following an upwardly revised 0.5% increase (from 0.4%) in October. Total private construction was up 0.1% month-over-month while total public construction declined 0.1% month-over-month. On a year-over-year basis, total construction spending was up 3.0%.
The key takeaway from the report is that there wasn't much impulse for construction spending in November, particularly on the nonresidential side of things.
