U.S. equities finished mostly higher and nearly unchanged in another lackluster trading session.
Treasury yields were modestly lower after yesterday’s holiday break, and as small business optimism improved slightly more than expected.
Gold prices finished positive and the U.S. dollar was higher, while crude oil prices were little changed.
The Dow Jones Industrial Average was unchanged at 27,691
The S&P 500 Index increased 5 points (0.2%) to 3,092
The Nasdaq Composite gained 22 points (0.3%) to 8,486
In moderate volume, 790 million shares were traded on the NYSE and 1.9 billion shares changed hands on the Nasdaq
WTI crude oil ticked $0.06 lower to $56.80 per barrel and wholesale gasoline was unchanged at $1.61 per gallon
The Bloomberg gold spot price was $2.69 higher at $1,458.55 per ounce
The Dollar Index—a comparison of the U.S. dollar to six major world currencies—increased 0.1% to 98.34
Small business optimism ticks higher in October
The National Federation of Independent Business (NFIB) Small Business Optimism Index for October rose to 102.4 from September’s unrevised 101.8 level, and compared to the Bloomberg expectation of an increase to 102.0.
Treasuries were modestly higher following yesterday’s holiday break and a recent drop, as the yield on the 2-year note dipped 2 basis points to 1.65%, while the yields on the 10-year note and the 30-year bond were 3 bps lower at 1.92% and 2.39%, respectively.
Tomorrow, investors will get the first look at the October inflation picture, courtesy of the Consumer Price Index (CPI), forecasted to show prices rose 0.3% month-over-month (m/m) following the flat reading posted in September, while the core rate, which strips out the volatile food and energy components, is anticipated to have gained 0.2% m/m after ticking 0.1% higher m/m the month prior. MBA Mortgage Applications are also slated for release.
Europe mostly higher on reports U.S. may delay auto tariffs and data
European equities finished mostly higher amid some apparent caution ahead of the afternoon speech from U.S. President Donald Trump, while reports that the U.S. could delay a decision on imposing tariffs on the region’s auto sector also seemed to somewhat support sentiment.
Plus, the markets continued to focus on the recently increased optimism regarding a U.S.-China “phase one” trade agreement. The euro was lower versus the U.S. dollar, while the British pound gained ground on the greenback.
The U.K. FTSE 100 Index rose 0.5%, Germany’s DAX Index was up 0.7%, France’s CAC-40 Index rose 0.4%, Italy’s FTSE MIB Index rallied 1.2%, and Switzerland’s Swiss Market Index ticked 0.1% higher, while Spain’s IBEX 35 Index declined 0.9%.
Stocks in Asia finished mostly higher after slipping yesterday on disappointing economic data out of China, Japan and India, with the markets continuing to monitor the prospect of a U.S.-China “phase one” trade deal, as well as the escalated unrest in Hong Kong.
Japan’s Nikkei 225 Index rose 0.8%, with the yen slipping, while South Korea’s Kospi Index also moved 0.8% to the upside.
China’s Shanghai Composite Index advanced 0.2% and the Hong Kong Hang Seng Index gained 0.5%, trimming some of yesterday’s drop.