Stocks fell slightly in overnight trading but investors were trying to press stocks higher in early trading in hopes of another big move higher in prices. Treasury yields rose slightly in overnight trading and sellers continued to drive yields higher in early trading.
Initial unemployment claims remain below 300k as 290k Americans filed claims last week. Total claims, including all forms of Pandemic Unemployment Assistance, fell -369k to 3.279 million.
The Philly Fed Manufacturing index expanded at a slower rate in October. Business conditions, CAPEX spending, employment, new orders, and prices paid all increased over the prior month.
Existing home sales rose +7.0% but fell to -1.51% from this time last year.
The U.S. Leading Index slowed to +0.2% in September which marks the fifth straight month of slowing growth.
Stocks pushed higher to close at new all-time highs while Treasury yields closed slightly higher.