US Macro Daily(Beta Mode)
Equities Advance as 10Y Yield Climbs
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P 500 | 7,674.37 | +0.43% |
| Nasdaq 100 | 29,308.86 | +0.33% |
| Dow Jones | 53,277.01 | +0.98% |
| Russell 2000 | 3,017.87 | +0.85% |
| USD/JPY | 158.88 | +0.38% |
| EUR/USD | 1.17 | -0.18% |
| GBP/USD | 1.36 | -0.14% |
| Gold | 4,702.80 | +1.70% |
| WTI Crude | 85.23 | -2.10% |
| Bitcoin | 77,567.91 | -0.24% |
| US 2Y Treasury | 4.19% | +0.00% |
| US 10Y Treasury | 4.69% | +0.86% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
US 2Y Treasury Yield | Type: macro_line | Yield (%): 4.19 (2026-08-20) | Range: 0.2–5.19 | Trend(5pt): 0.23,4.46,4.69,4,4.19
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Chicago Fed National Activity Index | -0.02 | - | 04:30 |
| Treasury Secretary Bessent Speech | - | - | 10:00 |
| Tuesday (2026-08-25) | |||
| Speech by Fed's Barkin | - | - | 04:00 |
| ADP Employment Change Weekly | 9,500 | - | 04:15 |
| S&P/Case-Shiller Home Price Year-over-Year | 1.60 | 1.70 | 05:00 |
| CB Consumer Confidence | 90.80 | - | 06:00 |
| New Home Sales Level | 628,000 | 620,000 | 06:00 |
| New Home Sales Month-over-Month | 1.60 | - | 06:00 |
| Speech by Fed's Barkin | - | - | 12:00 |
- Equities rose across major indices with the Dow gaining 0.98% to 53,277.01.
- US 10Y Treasury yield increased 0.86% to 4.69% while the 2Y held at 4.19%.
- Attention turns to today's Chicago Fed National Activity Index and Treasury Secretary Bessent speech.
Yesterday's Recap
US equity markets posted solid gains on August 23 with the S&P 500 advancing 0.43% to 7,674.37, the Nasdaq 100 rising 0.33% to 29,308.86, the Russell 2000 climbing 0.85% to 3,017.87, and the Dow Jones surging 0.98% to 53,277.01. Treasury yields moved higher, lifting the 10Y note 0.86% to 4.69% while the 2Y remained steady at 4.19%. Gold surged 1.70% to 4,702.80 on safe-haven demand, whereas WTI crude fell 2.10% to 85.23 amid softer demand signals.
The dollar strengthened against the yen with USD/JPY up 0.38% to 158.88, while EUR/USD slipped 0.18% to 1.17 and GBP/USD eased 0.14% to 1.36. Bitcoin declined modestly 0.24% to 77,567.91. No major US data releases occurred yesterday, leaving price action driven by positioning ahead of the week’s calendar.
Broader risk appetite remained constructive despite the backup in longer-term yields.
The Day Ahead
The Chicago Fed National Activity Index releases at 4:30 ET and will provide an early read on August business conditions following the prior -0.02 print. Treasury Secretary Bessent speaks at 10:00 ET, with markets likely to parse any comments on fiscal policy and debt reduction plans. Tomorrow features the S&P/Case-Shiller Home Price Index, CB Consumer Confidence, and New Home Sales, all due at 6:00 ET.
Wednesday brings high-impact Core PCE and Durable Goods Orders at 4:30 ET, which will directly inform inflation and growth trajectories. Fed’s Barkin is scheduled for two speeches on Tuesday, offering additional policy color. API crude stocks data at 12:30 ET tomorrow may influence energy markets ahead of the EIA release.
Other Economic Notes
Second-quarter GDP expanded at a 1.50% annualized pace with year-over-year growth at 2.10%, reflecting moderate expansion supported by consumer spending. The unemployment rate stands at 4.10% while July retail sales rose 5.01% year-over-year, indicating resilient household demand. July CPI printed 3.30% year-over-year, keeping price pressures above the Fed’s target.
The 3.63% federal funds rate continues to anchor policy expectations amid mixed growth and inflation signals. Rising Treasury yields may begin to test the economy’s sensitivity to higher borrowing costs after years of accommodation.
