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Major market averages opened trading on Monday morning in a mixed fashion after last week’s downward move in the markets.
Early on and the Nasdaq Composite (COMP.IND) declined by 0.2%, the S&P 500 (SP500) moved up 0.3%, and the Dow (DJI) picked up 0.6%.
“We had two US payrolls and two inflation releases to get through before the next FOMC in September and although the first of these on Friday was a mixed affair, it did trigger a big rally across the US rate curve with 2yr and 10yrs -11.7bps and -14.1bps tighter, respectively, on the day even if yields were still higher at the long-end on the week,” Deutsche Bank’s Jim Reid said. “We’ll review the main payroll highlights below but with that out the way we move on to the next big one, namely US CPI on Thursday. PPI follows fast behind on Friday alongside the University of Michigan consumer survey which contains the all-important inflation expectations series.
The 10-year Treasury yield (US10Y) rose 2 basis points to 4.08%. The 2-year yield (US2Y) remained unchanged at 4.78%.
Moreover, the economic calander remains light to start off the trading week.
See the biggest stock movers this morning.
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