As the market digests the PPI data and looks toward the University of Michigan preliminary sentiment data and inflation expectations at the top of the hour, the US stocks are trading mixed.
The Dow industrial average is higher along with the S&P. The NASDAQ index is lower. All three indices moved modestly lower yesterday.
For the trading week all three indices are modestly higher.
Bank earnings came out better than expected and are helping to support the Dow and S&P
A snapshot of the market 11 minutes into the open is showing
- Dow industrial average +195.72 points or 0.46% at 42649.84
- S&P index up 6.61 points or 0.11% at 5786.66.
- NASDAQ index -58.57 points or -0.32% at 18223.48.
For the trading week
- Dow industrial average +0.74%
- S&P index, +0.65%
- NASDAQ index +0.53%
Looking at the financial companies that reported this morning:
- J.P. Morgan, +3.19%
- Wells Fargo, +4.53%
- Bank of New York Mellon +0.19%
- BlackRock +2.40%
Tesla shares are trading down close to 8% $219.50 after the Robotaxi event last night lacked specific details.
Musk did promise self driving taxis before 2027
Goldman Sachs up there projections for ended video to $150. Shares are trading down by -0.19%
US yields are trading next with a shorter end lower any longer and higher:
- 2- year 3.957%, -4.2 basis points
- 5-year 3.901%, -1.7 basis points
- 10 year yield 4.096%, +0.2 basis points
- 30 year yield 4.402%, +1.8 basis points