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Stock index futures were mixed on Black Friday with trading set to end early.
Dow futures (INDU) +0.2% were up. S&P futures (SPX) were little changed and Nasdaq 100 futures (NDX:IND) -0.1% edged down.
The stock market closes at 1 p.m. ET and the bond market closes at 2 p.m. ET.
“The Thanksgiving holiday means it’s been a quiet 24 hours, since US markets were closed yesterday and they’re only open for a half-day today,” Deutsche Bank’s Jim Reid said. “In the meantime, the main story has been an ongoing bond selloff in Europe, mainly thanks to another batch of hawkish commentary from central bankers, along with some flash PMIs that were slightly better than expected.”
“So there was a bit of a pushback to the recent narrative that rate cuts are just around the corner.”
The 10-year Treasury yield (US10Y) rose 6 basis points to 4.48%. The 2-year yield (US2Y) rose 1 basis point to 4.94%.
Shortly after the start of trading, S&P Global’s PMI for November is out. The forecast is for a drop to 49.8 for manufacturing and a dip to 50.4 for services.
