ozgurdonmaz
Major market averages pushed higher on Monday morning as traders and investors start the holiday shortened week.
Early on and the Nasdaq Composite (COMP.IND) was +0.4%, the S&P 500 (SP500) was +0.2%, and the Dow (DJI) was +0.2%.
“We have a quiet week ahead for economic data and with Thanksgiving potentially a distraction for some, there isn’t a lot to challenge the market’s view that a US soft-landing is coming,” SocGen’s Kit Juckes said. “European PMI data on Friday could be a reminder that growth on this side of the Atlantic isn’t anything to write home about, but US PMIs will be ignored in favor of waiting for ISM a week later (and then payrolls a week after that, followed by CPI and the FOMC).”
The 10-year Treasury yield (US10Y) rose 2 basis points to 4.46% and the 2-year yield (US2Y) was up 2 basis points to 4.91%.
On the economic front, the October measure of leading economic indicators fell 0.8% compared to the economists expected drop of 0.7%.
