After a two-day surge that propelled stocks to all-time highs, the market is giving back some of its gains in today’s session.
The S&P 500 is down 0.3%, trading near 1842. The Dow Jones Industrial Average is down 0.6%, trading near 16,390.
Earlier this morning, December consumer prices data came in line with expectations, and weekly initial jobless claims figures were lower than expected. Later, the release of the latest gauge of home builder confidence from the National Association of Home Builders shows that sentiment unexpectedly fell over the past month, while the Philadelphia Fed’s monthly Business Outlook Survey suggested regional manufacturing conditions have improved faster than expected.
While none of the data releases moved stocks much, they have been generally supportive of U.S. Treasuries, which have sold off in the last two sessions.
Today, yields across the Treasury curve are falling — led lower by the 10-year yield, which is trading 2.84%, 5 basis points below Wednesday’s close. 7-year and 30-year notes are also trading about 5 basis points lower today.
The dollar is down 0.3% against the yen and flat against the euro.