Stocks edged lower overnight as Treasury yields rose to their highest level in more than a decade on fresh inflation concerns as investors awaited the Federal Reserve monetary policy update due Wednesday.
Stocks were flat overnight as gains in tech and energy helped offset Tesla-led weakness in consumer stocks just a day ahead of the Federal Reserve’s two-day meeting.
Equities ended sharply lower and Treasury yields headed higher on Friday as plunging chip stocks and mixed economic data dampened investors’ risk appetite, providing a downbeat ending to a tumultuous week.
Equities were up overnight on stronger than expected retail sales pointed to a resilient economy even as inflation data came in hotter than expected.
Equities advanced and U.S. Treasuries oscillated within a tight range on Wednesday after data showed underlying inflation remained on its slow, downward trajectory, boosting expectations that the Federal Reserve will let interest rates stand, for now.
Equities gave back yesterdays gains as Apple led a stumble in tech despite unveiling its latest iPhone, but jump in energy stocks kept losses in check a day ahead of fresh inflation data.
Equities rode tesla and big tech higher at the start of the week ahead of Apple’s eagerly anticipated iPhone 15 launch due Tuesday and inflation data later this week.
Equities ended higher Friday, but that wasn’t enough to prevent a weekly loss as Treasury yields racked up gains for the week amid fears that the Fed may have to persist with higher for longer rates.
Equities were mixed overnight with the market being weighed down by tech stocks, as investors continued to worry about interest rates remaining higher for longer.
ASX prepares for a dip, mirroring New York’s tech-led downturn. Inflation worries rise as RBA Governor Lowe gears up for a pivotal speech in Sydney.
Equities were weighed down by rising Treasury yields, but a rally in energy stocks kept a lid on losses as oil prices climbed after major oil producers agreed to extend their oil production cuts.
Equities ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month
