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By Staff Reporters
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- Markets: Stocks held steady despite a jump in bond yields (which typically sends equities lower). Gas station, oil prices continued their upward march.
- Economy: Jobs Report at 8:30am ET today, as the government will drop the employment situation for July. It is expected to show a softening—but still healthy—labor market. Economists will be especially dialed in to wage growth for insights on the future trajectory of inflation. Workers getting big raises could put upward pressure on prices.
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Here is where the major benchmarks ended yesterday:
- The S&P 500® Index (SPX) was down 11.50 points (0.3%) at 4,501.89; the Dow Jones Industrial Average (DJIA) was down 66.63 points (0.2%) at 35,215.89; the NASDAQ Composite (COMP) was down 13.73 points (0.1%) at 13,959.72.
- The 10-year Treasury note yield (TNX) was up about 11 basis points at 4.185%.
- CBOE’s Volatility Index (VIX) was down 0.11 at 15.98.
Energy was among the strongest sectors Thursday as crude oil futures surged nearly 3%. Consumer Discretionary shares and regional bank stocks recovered some of their losses from the day before.
Utilities were among the weakest sectors, with the Philadelphia Utility Index (UTY) dropping near a four-week low.
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Filed under: "Ask-an-Advisor", Financial Planning, Investing | Tagged: bonds, CBOE, DJIA, DOW, energy, gas, NASDAQ, oil, S&P 500, TNX, UTY, VIX |
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