ISM Manufacturing Index holds at 4-year high; Treasury yields and S&P 500 rise amid mixed market signals

The ISM Manufacturing Index remained steady at a four-year high of 84.6, indicating strong industrial growth with 13 industries expanding. Treasury yields increased, with two-year notes rising 10 basis points to 3.88% and 10-year notes up 7 basis points to 4.37%, reflecting shifts in bond markets. The S&P 500 gained 0.9%, continuing its year-to-date positive trend, while the Dow and Utilities sectors also saw gains. Meanwhile, Federal Reserve credit expanded by $2.8 billion last week, signaling ongoing monetary activity. These mixed signals suggest cautious optimism in the economy as markets balance growth with inflation and policy concerns.