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S&P 500 briefly tops 5,500 for the first time as Nvidia market leadership continues: Live updates

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Stocks are coming off of a winning session on Tuesday and are on pace to end the shortened trading weak higher.

The bond market has recently seen signs of improvement, with the benchmark 10-year Treasury note yield recently giving back a chunk of its 2024 gains . However, these moves could be short lived, according to AmeriVet Securities' Gregory Faranello. 'Dynamics have felt better to support the US Treasury market. But to be clear there's been no definitive green light,' Faranello, the firm's head of U.S. rates strategy, wrote in a note Thursday.

'Issuers remain extremely active, so more paper is hitting the market. Mortgage rates have come down but nothing demonstrative. The fiscal outlook in the United States hasn't changed. And if you put the plethora of Fed speak in a blender before the holiday it's been relatively consistent, in need of more data, and pointing toward 'later this year.'' 'Let's face it, the inflation data has softened short term.

 

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