US stocks slipped on Friday but are expected to have a winning week, benefiting from decreasing bond yields. The S&P 500, Nasdaq, and the Dow Jones Industrial Average are all up 2% or more this week, driven by positive sentiment around the possibility of the Fed cutting rates next year.
The cooler-than-expected inflation data this week led traders to price in a higher likelihood of the central bank pivoting to rate cuts in the future. On Friday, the 10-year Treasury yield continued to decrease, while oil prices rebounded after a sharp decline on Thursday.
As of 9:30 a.m. on Friday, the US indexes were looking as follows:
– S&P 500: [Current Value]
– Nasdaq: [Current Value]
– Dow Jones Industrial Average: [Current Value]
In commodities, bonds, and crypto:
– West Texas Intermediate crude oil rose 1.9% to $74.25 a barrel, while Brent crude climbed 1.9% to $78.90 a barrel.
– Gold remained steady at $1,987 per ounce.
– The 10-year Treasury yield decreased by 1 basis point to 4.435%.
– Bitcoin rose 1% to $36,340.
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