A strong October retail sales report has definitely set the tone for markets this morning.
S&P 500 futures rose into positive territory following the release and are now trading up 0.2% at 1788.
Meanwhile, 30-year U.S. Treasury futures are now down 0.3%, and the yield on the 10-year note is 2.74%, up 3 basis points from yesterday’s close.
The dollar also initially spiked against the euro and the yen on the release of the retail sales report, but those moves are being faded.
Also released at 8:30 were October consumer prices, which rose 1.0% year over year — in line with expectations, but down from September’s 1.2% annual inflation rate.
The charts below show the moves. From left to right across the top are S&P 500 futures, the dollar-yen exchange rate, and the euro-dollar exchange rate. From left to right across the bottom are gold futures, 30-year Treasury futures, and WTI crude oil futures.