Stock Market Update
31-Jul-26 11:30 ET
Housing takes an interest rate hit
Dow +44.08
at 52252.14,
Nasdaq -35.10
at 25108.09,
S&P -9.49
at 7428.14
[BRIEFING.COM] The market has settled down (relatively speaking) after a topsy-turvy start. Coincidentally, Treasury yields have settled down after a fast rise this morning, spending the better part of the past 90 minutes in a sideways range that has had the 10-yr note yield stuck around 4.73%.
The move in the 10-yr note yield slowed the stock market's early momentum, and once again it has not had favorable vibes for the housing market, as a rising 10-yr note yield is pressuring mortgage rates higher.
The iShares Dow Jones US Home (ITB 94.19, -1.28, -1.34%) and SPDR S&P Homebuilders ETF (XHB 103.61, -0.91, -0.87%) are both on the defensive today.
