| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,933.90 | +0.35% |
| Nasdaq | 23,613.31 | +0.22% |
| Spot VIX | 13.47 | -3.79% |
| 2 Year Bond Yield | 3.51 | -2 bps |
| 10 Year Bond Yield | 4.13 | -4 bps |
| EUR/USD | 1.1778 | -0.02% |
| USD/JPY | 155.93 | -0.02% |
| GBP/USD | 1.350 | -0.01% |
| WTI Oil | 58.38 | +0.64% |
| Gold | 4,480.84 | -0.08% |
| Bitcoin | 87,494.05 | -0.13% |
| Data | Prior | Cons | Actual |
|---|---|---|---|
| MBA 30-Year Mortgage Rate | 6.38 | - | 6.31 |
| Weekly Jobless Claims | 224,000 | 223,000 | 214,000 |
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
The MBA 30-Year Mortgage Rate edged down to 6.31% from 6.38%, reflecting improved housing affordability amid steady demand. Weekly Jobless Claims declined to 214k, surpassing the consensus estimate of 223k and the previous 224k, indicating underlying labor market strength. Markets traded calmly with VIX at 13.47, equities stable, and bond yields holding steady at 4.13% for 10-year Treasuries. The US dollar weakened slightly against EUR to 1.1778, while commodities like gold rose to 4480.84 and WTI oil held at 58.38.
With Christmas closures, no major economic data releases are scheduled for today, allowing markets to digest recent robust US growth signals. Investors will monitor for any geopolitical updates, particularly US-Venezuela tensions impacting oil prices. Thin trading volumes may amplify reactions to weekend news, potentially influencing early holiday positioning.
Global political pressures on central banks, including Trump's stance against Fed independence, add uncertainty to monetary policy continuity. Broader inflation trends remain subdued, supporting consumer spending despite elevated housing costs.
In the rate cutting cycle, recent data like lower jobless claims suggests fewer cuts may suffice, favoring a slower pace amid resilient activity. Trump's remarks on Fed chair selection introduce political risks, potentially tilting policy toward more easing if disagreement persists. Markets maintain dovish expectations for 2025 cuts, but hawkish data could prompt pauses if growth surprises continue.