Investors and traders watched the major market averages trade mixed on Friday morning, while Treasury yields dipped.
Early on and market participants will have seen that the S&P 500 (SP500) was -0.1%, the Nasdaq Composite (COMP:IND) was -0.2%, and the Dow (DJI) was +0.2%.
Looking towards the Treasury market and yields have noticed a slight downward shift. The shorter end U.S. 2 Year Treasury yield (US2Y) declined by 1 basis point to 4.73%. At the same time, the longer end U.S. 10 Year Treasury yield (US10Y) moved lower by 1 basis point to 4.26%.
See how other yields trade across the entire yield curve here.
On the economic calendar, market participants watched the U.S. PMI Composite unexpectedly tick up in flash June print. The S&P Global U.S. PMI Composite moved up to 54.6 versus the 53.5 expected level.
Furthermore, existing home sales edged down less than forecasted in May. U.S. existing home sales came in at 4.11M in May, compared with the 4.08M consensus figure.
In other market news, shares of Palantir Technologies (PLTR) are in the news as investment firm Monness, Crespi, Hardt downgraded the enterprise software maker, citing worries in the space.
Microsoft (MSFT) was also in the spotlight as investment firm Citi maintained its Buy rating and raised its price target following positive news surrounding generative artificial intelligence startup OpenAI, of which it owns a significant stake in.
