Stock Market Update
16-May-25 12:00 ET
Treasury yields move up after data
Dow +32.34
at 42355.09,
Nasdaq +24.24
at 19136.56,
S&P +11.79
at 5928.72
[BRIEFING.COM] The market is holding up okay despite the disappointing consumer sentiment report for May that was low on sentiment and high on inflation expectations.
The latter, which featured an increase in year-ahead inflation expectations from 6.5% to 7.3%, triggered a reversal in bond yields. The 2-yr note yield, which stood at 3.93% ahead of the 10:00 a.m. ET release, has moved back up to 3.96%, while the 10-yr note yield, at 4.40% ahead of the release, has climbed to 4.42%.
Elsewhere, the CBOE Volatility Index (VIX) is down 2.4% today to 17.41.
