U.S. Markets: What happened
- U.S. markets ended the day higher across the board.
- The Dow did better than tech, but the S&P 500 and Nasdaq also moved up and stayed close to record levels.
- Overall mood was calm and steady. Not a big risk-on day, but clearly not risk-off either.
What supported the markets
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U.S. manufacturing data came in strong. This reassured markets that the economy is still holding up, even with high interest rates.
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Cyclical and industrial stocks led the move. That usually happens when investors are comfortable with growth and are not worried about an immediate slowdown.
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Rising bond yields did not hurt equities much. This suggests markets are currently okay with the idea that rates stay higher for longer.
What did not matter as much
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Commodities were volatile, especially gold, silver, and oil. These moves looked more like position unwinding and dollar strength than a signal of economic stress.
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Policy and Fed-related noise stayed in the background. Investors focused more on actual data than on speculation.
How to read this session
- Markets seem to be absorbing volatility and not panicking
- Growth data still matters more than narratives
- Risk appetite is selective but intact