Stock Market Update
08-May-25 12:30 ET
Treasury yields rise; stocks remain near highs
Dow +563.90
at 41677.87,
Nasdaq +305.32
at 18043.48,
S&P +74.61
at 5705.89
[BRIEFING.COM] Stocks remain near session highs. The Dow Jones Industrial Average is more than 500 points above its prior close.
Treasury yields are up, reacting in part to a preliminary Q1 productivity report that showed unit labor costs surging 5.7%; a New York Fed survey showing median inflation expectations unchanged at 3.6% for the one-year-ahead horizon and reaching 3.2% for the three-year-ahead horizon, which is the highest since July 2022; and a clear indication from Fed Chair Powell yesterday that the Fed remains in a wait-and-see mode when it comes to changing its policy setting.
The 10-yr yield is seven basis points to 4.35% and the 2-yr yield is up six basis points to 3.85%.
