Stocks are slightly higher today, looking to close out the month on a multiday winning streak and trim monthly losses.
The
$DIA,
$QQQ, and
$SPY are all down more than 1% month to date.
On the data front, the Personal Consumption Expenditures price index (PCE) increased 0.2% in July. Year-over-year, the index increased from 3.0% in June to 3.3% in July. Stripping out food and energy, Core PCE ticked up 0.1 percentage points to 4.2% YoY, while MoM change was 0.2%. Personal income increased 0.2%, down from 0.3% the prior month, and personal spending climbed to 0.8%, up from 0.6% the prior month.
Initial jobless claims fell by 4K to 228K for the week ending August 26. The 4-week moving average increased slightly to 237,500. Continuing claims increased 28,000 to 1,725,000 from the previous week. The 4-week moving average also increased slightly to 1,704,250.
Treasury yields are higher this morning, with the 2-year T yield up 5.6 basis points to 4.90%, the 5-year T yield up 4.0 basis points to 4.28% and the 10-year T yield up 1.2 basis points to 4.11%. Advance rates are lower on terms less than 6-months, higher terms greater than 6-months.
That’s it for today!
Come hang out in the Games N Gains twitch stream tonight at 6PM MST to play games and talk stocks 🤝