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Major market averages opened Tuesday’s trading session higher, rebounding a little from the previous session as a tentative Thanksgiving trade continued.
Early on and the Nasdaq Composite (COMP.IND) gained by 0.2%, the S&P 500 (SP500) picked up 0.6%, and the Dow (DJI) tracked upward by 0.8%.
Among the 11 S&P sectors all have traded higher, led by Energy while the Communications Services segment has lagged the most.
The 10-year Treasury yield (US10Y) is down 4 basis points to 3.78%. The 2-year yield (US2Y) is flat at 4.53%.
“Yesterday’s US Federal Reserve speakers hinted at a slower pace of continued rate hikes,” UBS’ Paul Donovan wrote. “Fed Chair Powell may be kicking the prostrate form of the economy more gently, but the obsessive chant of ‘hike, hike, hike’ means Powell is still kicking. Fed President Mester speaks on wages and inflation today – the devastatingly negative real wage growth suggests weak pay bargaining power persists.”
The economic calendar is light again, but Wednesday is stacked with durable goods, new home sales and the Fed minutes. The Fed’s Loretta Mester will speak later today.
Among active issues, Best Buy is lower after topping estimates but keeping guidance unchanged.
Image and article originally from seekingalpha.com. Read the original article here.