Us Economic Data To Impact Markets
Investors and traders were looking forward to the release of economic data regarding the globe's largest economy, which prompted the three major indices to hover in value as the trade week began.
Tuesday, June 3, 2014 - 00:00
Coming off touching an all-time high on Friday, the S&P 500 advanced slightly more than 2% last month. Since scraping its lowest value in about 60 days in April, the S&P 500 has risen nearly 6%. Confidence is high that the US is poised to see economic growth during the second quarter.
Just after 10:00 AM. in New York, the Nasdaq had climbed 0.48%, a rise of 20.45 points to 4,222.17, while the S&P 500 had increased 0.24%, a lift of 4.64 points to 1,918.93, and the Dow rose 0.09%, a climb of 15.57 points to 16,701.60.
Stimulus provided by the European Central Bank and the Bank of Japan is proving to be beneficial for development and growth in the US, which also advanced as a result of strong corporate earnings data. Global shares skyrocketed to an all-time high of $64 trillion last month. Economic data noting the US economy slipped for the first time in 36 months during the first quarter of this year did not dissuade the S&P 500 from closing last month at a record high. Policy makers with the Fed said in late April that they did note the economy has grown stronger despite the onset of frigid cold earlier this year during the first quarter.
Economy-spurring measures implemented by the Fed have prompted the S&P's growth. That index has climbed as much as 184% since touching its lowest level in March 2009. Anticipation is high for the US Labor Department's monthly jobs report, which is scheduled for release later this week. So too is the US government prepared to release data regarding factory orders and sales of cars as the week proceeds.
Treasury yields remain low
Notes set for maturity in 10 years are hovering lower than 2.5%, according to Reuters. Those Treasuries touched their lowest value since June of last year during last Thursday's trading session.
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