Yesterday, all thirty DJIA components fell, and all ten S&P500 industry sectors closed lower, led by declines in basic materials (-4.1%), financials (-4.0%), tech (-3.0%), and oil and gas (-3.0%). The US dollar moved higher against a basket of currencies, sending commodities priced in the greenback mostly lower, with gold snapping its three-session gains.
Activity in the U.S manufacturing sector expanded in September for the second consecutive month, another hopeful signal the U.S. economy will recover in the near future. The Treasurys market opened the 4th quarter with a rally sending the 10-year note’s yield to the lowest level in May. The 30-year bond’s yield fell below 4% to the weakest level since late April.
Zacks Investment Research
