"However, it's also been a tailwind for earnings. "The rise in inflation and the Fed's reaction to it has been a real headwind for valuations this year," Morgan Stanley strategists wrote in a note on Monday. Two-year yields were last at 3.211%, after reaching 3.331% on Friday, the highest since June 16. On Monday, benchmark 10-year note yields fell to 2.751%, after getting as high as 2.869% on Friday, the highest since July 22. consumers' expectations for where inflation will be in a year and three years dropped sharply in July, a New York Federal Reserve survey showed on Monday, a win for policy makers. consumer prices report due on Wednesday, which could see a further acceleration in inflation - and more aggressive Federal Reserve interest rate hikes.īusiness investment appeared to be an early victim of rising prices and rates, according to new U.S. jobs data last week raised the stakes for the July U.S. Indeed, higher interest rates remained in focus for investors. "With labor market strength, the threat of a recession seems remote, but concerns over how aggressive the Federal Reserve could be hovers over the market," Quincy Krosby, chief global strategist for LPL Financial, said in an email. But the MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, added just 0.15%. The broad Euro STOXX 600 (.STOXX) finished up around 0.75% on Monday, led by cyclical and growth stocks, helping it recover losses from Friday. Of note was Nvidia Corp (NVDA.O), whose stock declined around 6% after the chip designer warned on Monday that its second-quarter revenue would drop by 19% from the prior quarter on weakness in its gaming business. The Dow Jones Industrial Average (.DJI) rose just 0.09% on the day, while the S&P 500 (.SPX) lost 0.12% and the Nasdaq Composite (.IXIC) dropped 0.1% read more government bond yields fell as investors weighed mixed messages on inflation and how aggressive the Federal Reserve might be in combating it. Aug 8 (Reuters) - Wall Street stocks were mostly flat on Monday, the dollar weakened and U.S.
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