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Today's market
April 3, 2024 at 9:15 a.m. EDT
Patricia Medina
Market Strategy Analyst
U.S indices saw some profit taking with U.S. Treasury yields sharply higher yesterday on the higher for longer narrative. Small caps retreated -1.8% and the S&P eased trading in a tight 24-point range. Meanwhile, Fed’s Daly and Mester said three cuts this year is a reasonable baseline subject to the data. China’s Caixin Service PMI accelerated, and EU flash inflation surprised lower with limited market reaction. Following steady JOLTS yesterday, ADP surprised to the upside; U.S. Treasury yields 2-4bps higher and equity futures slightly off as a result, pointing to a lower open.
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