Stock Market Update

[BRIEFING.COM] The broader market continued its downward trajectory the Fed's October Beige Book, released at the bottom of the hour; the report showed economic activity was little changed in nearly all Districts since early September, though two Districts reported modest growth. Most Districts reported declining manufacturing activity. Currently, the S&P 500 (-1.37%) is in second place, locked in a close race with the DJIA (-1.34%).

• Among other notable points from the report, employment increased slightly during this reporting period, with more than half of the Districts reporting slight or modest growth and the remaining Districts reporting little or no change.
• Contacts noted that it remained difficult to find workers with certain skills or in some industries, such as technology, manufacturing, and construction.
• Inflation continued to moderate with selling prices reportedly increasing at a slight or modest pace in most Districts. Still, the prices of some food products, such as eggs and dairy, were reported to have increased more sharply.
• Despite elevated uncertainty, contacts were somewhat more optimistic about the longer-term outlook.

Currently, the yield on the benchmark 10-yr treasury note is up almost three basis points to 4.243%.