October 2, 2018
The day's economic news is led by Amazon's move to raise its minimum wage, to $15 which is more than twice as high as the federal guideline and more than 1/3 higher than many states. Motor vehicle sales for September, excluding GM however, were also released showing little change from August and not pointing to strength for the September retail sales report.
The Dow added to yesterday's 0.7 percent gain with a 0.5 percent increase to 26,773 and a new record. Demand for bonds picked back up with the 10-year Treasury yield down several basis points to 3.06 percent. The dollar index rose for a second day, up 0.2 percent to 95.50. Oil, just over $75, held on to yesterday's big jump, while gold firmed back over $1,200 to $1,205.