Resurgent Yields Drive Stocks Lower to Start the Week
Bond yields hit fresh multi-year highs, while oil whipsawed on Iran headlines, sending the S&P 500 into the red for September.
Bond yields hit fresh multi-year highs, while oil whipsawed on Iran headlines, sending the S&P 500 into the red for September.
We face additional headwinds this week, but I also continue see many reasons to be bullish.
Rumors of a potential deal to open the Strait of Hormuz lifted stocks out of the red, but another rise in yields and oil prices kept them under pressure.
A jump in yields to fresh multi-year highs cascaded through markets Wednesday.
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A sixth day of gains for semiconductors drives the Nasdaq-100 to its first record since June while a fifth day of losses for crude boosted small caps
Tech’s continued rebound along with falling oil prices and Treasury yields drove a powerful rally to start the week.
August’s Chicago Fed National Activity Index matched expectations, with the three-month average — the report’s key signal — signaling slightly above trend growth.
“The Fed is behind us, growth has been upgraded, and positioning and sentiment have reset as investors have reembraced the Tech trade.”
Tech stocks did the heavy lifting as rising yields and the first factory-output drop of the year keep the rest of the market on its heels