From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 2/4/2025
U.S. stocks are higher Tuesday morning as investors continue to monitor U.S. trade developments. The U.S. agreed to pause tariffs for a month with both Mexico and Canada on Monday, while China implanted tariffs on the U.S. to begin on February 10. All three major averages rallied on Monday but still finished the day lower.
Looking at economic data today, the JOLTS report showed job openings fell to 7.600 million in December, missing expectations of 8.000 million and the lowest level since September. The previous month was revised higher to 8.156 million. The rate of quits, hires, and separations were all unchanged at 2.0%, 3.4%, and 3.3%, respectively.
Elsewhere, factory orders fell 0.9% in December, a bigger decline than expected. Excluding transportation, factory orders were up 0.3%. Core capital goods orders were revised to 0.4% for the month, down from the previous estimate of 0.9%.
U.S. Treasury yields are steeper this morning, with the 2-year Treasury down 3.3 basis points to 4.23%, the 5-year Treasury yield down 0.3 basis points to 4.35%, and the 10-year Treasury yield up 1.4 basis points to 4.56%. Longer-term advance rates are higher today.
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