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Market Brief – Tuesday 10/5/21

Stocks shot out of the gate as investors eagerly bought yesterday’s dip and headed higher in early trading. Treasury yields rose slightly in overnight trading before being slammed higher by sellers in early trading.

Exports rose slightly from $212.70 billion to $213.70 billion and imports rose from $283.00 billion to $287.00 billion. The trade balance widened to -$73.30 billion from -$70.30 billion.

The Markit Service PMI fell slightly to 54.9 and the Composite PMI fell slightly to 55.0 in September.

The “official” ISM Non-Manufacturing PMI rose slightly to 61.9 in September. Business activity, prices, and new orders rose slightly while employment fell slightly.

Stocks and Treasury yields closed the day higher.