Thursday, May 30, 2024
HomeFinance NewsStocks Rise as Bond Yields Retreat: Dow and Nasdaq Gain

Stocks Rise as Bond Yields Retreat: Dow and Nasdaq Gain

The recent stock-market selloff appeared to be moderating on Wednesday, partly due to a slight decline in bond yields. Benjamin Picton, a senior macro strategist at Rabobank, noted that the overall sentiment among investors remained cautious, hoping that positive economic data could boost morale. However, for now, it seems that the market will continue to experience volatility.

Major stock indexes, including the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average, showed little change during this period. Treasury yields also pulled back slightly, with the 10-year yield dropping to 4.515% after reaching its highest level since October 2007. On the other hand, the WSJ Dollar Index continued to strengthen against a basket of currencies, increasing for the sixth consecutive trading session.

The Cboe Volatility Index, known as Wall Street’s fear gauge, retreated after reaching a high of 19.50 on Tuesday. Although it has been relatively calm this year, any reading above 20 typically indicates rising fear in the market. Additionally, oil prices saw an increase due to ongoing supply concerns, with Brent crude, the international benchmark for oil, nearing $94 a barrel. European stock indexes had a slight uptick, while most Asian indexes experienced gains.

Overall, while there were signs of the selloff easing, the market remained cautious and uncertain. The performance of stock indexes was muted, bond yields decreased slightly, and the dollar rallied, while oil prices rose. Investors will continue to closely monitor economic data and global events for further insights into market trends.

Source link



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments