Retreating Yields Lift Stocks and Broaden Market Gains
Treasury yields reversed from two-decade highs, helping stocks recover morning losses as gains broaden beyond Tech, but higher oil prices remained a headwind.
Treasury yields reversed from two-decade highs, helping stocks recover morning losses as gains broaden beyond Tech, but higher oil prices remained a headwind.
A cooler-than-expected core PCE lifted stocks early, but a rebound in yields and a sharp final-hour selloff left the Nasdaq as the lone gainer on the day and month.
Major indices were down for a second session Tuesday but finished well off the lows after a key Fed voice said there’s “no need for urgency” on rate hikes.
Bond yields hit fresh multi-year highs, while oil whipsawed on Iran headlines, sending the S&P 500 into the red for September.
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.
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
Equities are starting the Thursday session with a strong tech-led rally aided by investors scooping up treasuries.
The S&P 500 falls for the 7th time in 8 sessions straining against key downside levels as a more hawkish than expected Fed does little to soften expectations for higher volatility in stock and bond markets.
At a time of serious economic and geopolitical risks, including growing fears of an AI bubble, the equity risk ‘premium’ is now in negative territory.