The final numbers are showing:
Dow industrial average rose 740.58 points or 1.78% at 42343.65. At session lows the index was up 245.97 points.S&P index rose 118.72 points or 2.05% at 5921.54. At session lows the index rose was up 51.25 pointsNASDAQ index rose 461.96 points or 2.47% at 19199.16. At session lows the index was up 224.48 pointsIn the US debt market yields moved lower with the long end outperforming:
2-year yield 3.980%, -0.6 basis points5-year yield 4.035%, -4.1 basis points10-year yield 4.443%, -6.7 basis points30 year yield 4.950%, -8.7 basis points.The Case-Shiller Home Price Index showed a modest decline of -0.1%, falling short of the +0.3% forecast. Meanwhile, durable goods orders (advance) dropped -6.3%, which was better than expectations of a -7.8% decline. Excluding transportation, orders rose 0.2%, reflecting the outsized impact of large-ticket transportation items.
Fed's Barkin spoke today and described the U.S. economy as remaining on a similar path as the past couple of years, with low unemployment and inflation gradually easing toward target. He noted that businesses are cautious, citing hiring freezes and delayed investment, though he doesn’t see evidence of outright cancellations. Barkin emphasized business sentiment as a key forward-looking indicator.
Regarding Trump’s tariff policies, Barkin said the effects on inflation and employment appear balanced so far. Businesses are responding in two ways—stockpiling inventories or cutting imports—but it’s too early to assess the full economic impact.
Looking at the US dollar, the greenback was higher vs the major currencies today, led by a 1% gain vs the JPY. The USDJPY is closing above the 200-hour MA at 144.077 (at 144.346).
The GBPUSD is lower and is testing its 100 hour MA at 1.3497 going into the new trading day. That will be a key barometer in the new trading day. Staying above is more bullish. Moving below, increases the sellers bias.
Good fortune with your trading.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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