Stay updated with breaking news from Jack Ablin. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Bond yields on ten- and thirty-year Treasuries reached 16-year highs in the session. Dow Jones index lost 0.84% to 34,474.83 points, the tech-dominated Nasdaq fell 1.17% to 13,316.83. The big names in technology weakened such as Apple (-1.46%), Amazon (-0.81%), Meta (-3.13%) or Netflix (-3%). "Stocks will remain under pressure until this rise in yields reverses," said one analyst.
As inflation worries ease, U.S. stocks may need a fresh source of fuel to propel further gains this year, investors said. Data released on Thursday showed annual inflation, which had been running at 40-year highs a year ago, rose at a more moderate pace than expected in July, supporting the so-called "Goldilocks" narrative of disinflation and resilient growth that has won over bearish investors and boosted risk assets this year. The S&P 500 has gained more than 16% on a year-to-date basis, though it was last trading largely flat on Thursday.
As inflation worries ease, U.S. stocks may need a fresh source of fuel to propel further gains this year, investors said. Data released on Thursday showed annual inflation, which... -Today at 02:36 pm- MarketScreener
As inflation worries ease, U.S. stocks may need a fresh source of fuel to propel further gains this year, investors said. Data released on Thursday showed annual inflation, which had been running at 40-year highs a year ago, rose at a more moderate pace than expected in July, supporting the so-called "Goldilocks" narrative of disinflation and resilient growth that has won over bearish investors and boosted risk assets this year. The S&P 500 has gained more than 16% on a year-to-date basis, thoug
By Lewis Krauskopf NEW YORK (Reuters) - As inflation worries ease, U.S. stocks may need a fresh source of fuel to propel further gains this year, inve...