An unexpectedly strong jobs number for July has bolstered the case for investors who believe Treasury yields will head higher over the rest of the year, potentially weighing on an equity rally that has taken stocks to record highs.
Wall Street rebounded on Tuesday, snapping a multi-day losing streak as a string of upbeat earnings and revived economic optimism fueled a risk-on rally.
The biggest rise in U.S. consumer prices in 13 years has intensified investor focus on messaging from the Federal Reserve, with the central bank’s chairman set to speak before Congress on Wednesday.
Stock investors are watching the dramatic moves in the Treasury market for clues on the fate of one of this year’s most successful plays – the so-called reflation trade that helped power shares of economically sensitive companies higher after nearly a decade of underperformance.
Asian shares rose and a gauge of global equities hovered near record highs on Wednesday after rising consumer confidence in economic recovery boosted the Nasdaq index to its highest-ever closing level.
The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.
Asian shares got the week off to a cautious start on Monday as a spike in coronavirus cases across Asia over the weekend hurt investor sentiment while oil hovered around 2-1/2 year highs.
The Nasdaq climbed to a record-high close on Wednesday, fueled by a rally in Tesla Inc (TSLA.O), with investors cheering data that showed a record peak for U.S. factory activity in June.
The Nasdaq hovered near its all-time high on Wednesday, helped by a boost from Tesla shares, with investors cheering data that showed a record peak for U.S. factory activity in June.
Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.