US Stocks- Wall Street futures climb 1% as Treasury yields retreat
时间:2024-06-26 08:56:52 阅读(143)
Wall Street futures rose more than 1% on Tuesday as a pullback in U.S. Treasury yields boosted the demand for stocks, with investors waiting for more economic data to gauge the monetary tightening path.
Data on job openings and factory orders will be in focus after the market opens, a day after weaker-than-expected manufacturing activity showed rising rates taming demand for goods.
Yields on government bonds fell on expectations that the Federal Reserve might slowdown, but Bank of New York President John Williams said while there are nascent signs of cooling inflation, price pressures remain too high, implying the U.S. central bank must press forward.
Investors will continue to keep a close watch on commentaries from Fed speakers including New York President John Williams, Cleveland President Loretta Mester and Governor Philip Jefferson.
“With earnings starting next week, it’s going to be quite interesting to see how much the inflation is really impacting profits,” said Melissa Brown, global head of applied research at Deutsche Boerse-owned Qontigo.
“If profits don’t come out maybe as high as expected and you combine that with continuing higher interest rates and therefore, lower justifiable valuations, that’s not a good mix to have for a market recovery.”
The rebound in stocks on the first trading day of the final quarter follows the S&P 500’s lowest close in nearly two years on Friday that capped its worst monthly performance since March 2020.
Also read: Petrol, Diesel Price Today, 4 October 2022: Fuel prices unchanged; check rates in Delhi, Mumbai, other cities
At 06:26 a.m. ET, Dow e-minis were up 445 points, or 1.51%, S&P 500 e-minis were up 65.75 points, or 1.78%, and Nasdaq 100 e-minis were up 248.25 points, or 2.2%.
Yield on the 10-year U.S. Treasury slipped to near two-week lows, lifting rate-sensitive growth stocks.
Megacap stocks such as Apple Inc, Microsoft Corp , Alphabet Inc and Nvidia Corp rose between 2.0% and 3.1%.
Rivian Automotive Inc jumped 8.8% after the electric-vehicle maker said it produced 7,363 units in the third quarter, 67% higher than the preceding quarter, and maintained its full-year target of 25,000.
Tesla Inc bounced back 3.6% from its steepest selloff in four months in the previous session that was triggered by disappointing quarterly vehicle deliveries.
上一篇:Technical Analysis - A clear blue sky for the markets
下一篇:Yes Bank shares tank 8% as lock-in period ends, stock hit a low of Rs 14
猜你喜欢
- Stocks to watch- TCS, TVS Motor, IDFC First Bank, Biocon
- Switch Mobility delivers 5 e-double decker buses to Gujarat State Road Transport Corporation
- Studying in Canada to get costlier from January 1, 2024
- Jindal Steel, Godfrey Phillips India among 138 BSE stocks to hit 52-week highs, 35 BSE stocks touch 52-week lows
- Tech Mahindra shares plunge over 4 per cent as Q1 profit drops
- L&T shares jump 4% on positive Q1 results, Rs 10,000 cr share buyback
- Jewellery consumption growth estimated at 10-12% in FY24, organised retailers to post revenue increase of 15-18%
- Sun Pharma- Speciality pipeline gets a boost
- L&T wins major EPC order from Saudi Arabia