U.S. stock indexes showed positive momentum today, with the S&P 500 Index rising by +0.26%, the Dow Jones Industrial Average up +0.45%, and the Nasdaq 100 Index increasing by +0.34%. This bullish trend came amid a drop in WTI crude oil prices, which fell over -1% following reports of U.S.-Iranian negotiations to potentially reopen the Strait of Hormuz.
Key economic data indicated a stronger-than-expected rise in August nondefense ex-aircraft capital goods orders, which climbed +1.6% month-over-month, surpassing forecasts of +0.6%. The 10-year Treasury note yield is relatively stable at 5.18%, down from a 19-year high of 5.22% last Thursday, as markets are currently pricing in a 64% chance of a 25 basis point rate hike by the Federal Reserve during its next meeting on October 27-28.
Internationally, the Euro Stoxx 50 increased by +0.71%, while Japan’s Nikkei-225 rose to a 2.5-week high with a gain of +1.30%. The German GfK consumer confidence index fell to -30.6, a five-month low, against expectations of -27.2.
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