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North American Morning Briefing: S&P 500 Futures Recover Early Losses After Yields Spike
Market Wraps Watch For: ADP National Employment Report for September; ISM Report on Business Services PMI for September; EIA Weekly Petroleum Report Today’s Top Headlines/Must Reads: – As the Fed’s Inflation Fight Drags On, Government Interest Payments Climb – Bond Selloff Threatens Hopes for Economy’s Soft Landing – Why 8% Mortgage Rates Aren’t Crazy –…
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US Futures, European Stocks Fall as Bond Selloff Intensifies
In the U.S. futures for the S&P 500 were down 0.5% and futures for the Dow Jones Industrial Average declined 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 fell 0.3% in morning trading. Orpea added 3% and Tesco climbed 2.2%. On the other hand,…
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Top Company News of the Day: China SCE, BYD, SoftBank, Intel
Developer China SCE Seeks Suspension of Trading in Debt Securities Property developer China SCE Group Holdings has sought the suspension of trading in its U.S. dollar-denominated notes on the Hong Kong exchange as it is facing an event of default. How China’s BYD Became Tesla’s Biggest Threat Once a maker of cellphone batteries, the company…
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Treasuries Rise Again To 16-year highs
Projected interest rates on US Treasury bonds closed the session higher following hawkish comments from Federal Reserve officials, which reminded investors that resilience in the US economy likely means that borrowing costs will remain higher for longer. That outlook helped 10-year Treasury yields rise to 16-year highs today in a bond selloff that, combined with…
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Oil Futures End The Day On a High With Restricted Supply Helping Recovery
Oil futures prices ended the day higher after falling to three-week lows, weighed down by a stronger US dollar and increasingly gloomy global economic signals, but supported by tightening oil supplies . Prices fell early in the day as the U.S. dollar rose to a 10-month high against a basket of major currencies. The strengthening…
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U.S. Stocks Tumble To Four-Month Lows Amid Ongoing Interest Rate Concerns
With traders continuing to express concerns about the outlook for interest rates, stocks moved sharply lower over the course of the trading day on Tuesday. The major averages all showed substantial moves to the downside after ending Monday’s trading mixed. The major averages climbed off their worst levels going into the close but still posted…
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Crypto This Tuesday: SBF Trial Begins, Web3 Investments Fall for the 7th Quarter, and More
Bitcoin and cryptocurrencies fall due to rising bond yields, disappointment with ETF launch The price of Bitcoin (COIN:BTCUSD) and other cryptocurrencies has declined in response to a rise in Treasury bond yields and the dismal performance of a new Ethereum ETF. Bitcoin fell below $27,600 after reaching $28,500 the previous day. Rising bond yields tend to reduce…
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USA Records 9.610 Million Job Openings In August, Says Jolts Report
The United States registered 9.610 million job openings on the last working day of August, an increase compared to the 8.920 million registered a month earlier (revised data), according to the employment and vacancy report (olts) released by the Department of Labor, which does not include the rural sector. There were 5.857 million hires in…
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Keep An Eye Out: Pre-Market Movers And Recommendations
Stocks in focus in premarket trade on Tuesday, October 3rd. Don’t Trade Without Seeing The Orderbook Point Biopharma (NASDAQ:PNT) shares spiked after Eli Lilly & Co (NYSE:LLY) announced that it had agreed to buy the cancer biotech for around $1.4 billion to expand its oncology therapies into radioligand treatments, which deliver radiation to tumor cells at…
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Continued Surge By Treasury Yields May Weigh On Wall Street
US Market The major U.S. index futures are currently pointing to initial weakness on Tuesday, with stocks likely to move mostly lower following the mixed performance seen in the previous session. The downward momentum on Wall Street comes amid a continued surge by treasury yields, with the yield on the benchmark ten-year note jumping to…