The major US indices are now trading in positive territory. The better inflation readings for July in the ISM/PMI surveys are supporting the market. The Fed is a data dependent and although June inflation data released late last week was not necessarily the best (core PCE was a bit higher than expectations), July seems to have seen a crack back to the downside.
A snapshot of the equity markets currently shows:
- Dow industrial average of 45 points or 0.14%
- S&P up 7 points or 0.17%
- NASDAQ index up 62 points or 0.51%
- Russell 2000 is is still down -7.8 points or -0.42%
The 3 major indices are working on 4 day winning streaks. Last month the Dow industrial average rose 6.73%, the S&P was up 9.12% and the NASDAQ index was up 12.35%.
