Wall Street finishing higher against healthy U.S. data backdrop

Wall Street finished higher Tuesday, but still has not exceeded the recent record highs while demand falls away as oil prices are sold off.

Some thoughts on Q3 US GDP - BBH

Looking to the dollar, rates and U.S. data, the 10yr treasury yields respond to strong US GDP and better than expected consumer confidence data. Yields rose rising from 2.32% to 2.35% only to fall back to 2.31% later in the session. The dollar was mixed although the Fed funds futures continued to imply a 100% chance of a rate hike in December backed up by strong GDP today ahead of the all important nonfarm payrolls at the end of the week.

The Dow Jones Industrial Average gained a marginal 23.70 points, or 0.1%, to close at 19,121.60, while the S&P 500 index advanced 2.94 points, or 0.1%, to finish at 2,204.66. The Nasdaq Composite index put up 11.11 points, or 0.2%, to close at 5,379.92 while oil dropped to $44.40bbl lows. US GDP in Q3 was revised higher in its second estimate, from 2.9% to 3.2% (3.0% expected).

Dollar index drops modestly ahead of employment data