U.S. Market Review

U.S. stocks pared early retreats today after a higher-than-predicted manufacturing survey reinforced confidence in the domestic economy.

IHS Markit’s Purchasing Manager’s Index (PMI) for U.S. manufacturing activity jumped to a reading of 51 in September from 50.3 versus the previous month, coming above forecasts.

U.S. government debt prices jumped today as investors looked for safety after the release of weak European economic numbers.

The benchmark 10-year Treasury yield sunk around 7 basis points to 1.681% while the 2-year rate slid to 1.644%.

The U.S. manufacturing sector is into a regaining mode with activity growth reaching a five-month peak.

The initial reading of U.S. manufacturing Purchasing Managers’ Index for September marked 51.0, the peak value since April and a gain from 50.3 in August.

Tesla is expected to face a shareholder lawsuit over CEO Elon Musk’s pay package. The car company had asked a judge to dismiss the suit, but the judge ignore their  request.