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Dow Jones futures drop back from PPI led gains as US yields rise

The US stock markets will reopen in less than 30 minutes from now and the initial reaction to the lower than forecast PPI data, which saw the Dow Jones futures scream higher, have not been curbed. Immediately after the data the Dow was priced to reopen close to 42,550. It is now priced at, or perhaps just below 42,400. It is a similar story for the S+P 500 ad Nasdaq 100 indexes too. The reason for that may lie with the fact that US yields are now actually higher again and the 10 year note is now nudging that 4.80% once more. That has also helped to lift the dollar from the immediate post PPI lows too. 
 

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