News10NBC on Nostr: Stock market today: Wall Street drifts around its records as bond yields ease ...
Stock market today: Wall Street drifts around its records as bond yields ease
==========
U.S. stocks are drifting around their records as bond yields ease. The S&P 500 was 0.2% higher a day after setting a record for the 30th time this year. The Dow Jones Industrial Average was up 85 points, or 0.2%. Stocks got some lift from easing yields in the bond market. Treasury yields fell after a report showed sales at U.S. retailers returned to growth last month but remained below economists’ expectations. Bets built among traders that the Federal Reserve will cut rates at least once this year and possibly twice. The yield on the 10-year Treasury fell to 4.24% from 4.29% late Monday. The two-year yield dropped to 4.71% from 4.77%. Weaker-than-expected data could be a warning signal that spending by households, the main engine of the U.S. economy, is cracking. Inflation is still high, and consumers are struggling to keep up with the more expensive prices. Lennar, a homebuilder, fell 1.9% after co-CEO Stuart Miller said “challenged consumer sentiment” and swings in interest rates are testing the company. Fisker plunged nearly 60% after filing for Chapter 11 bankruptcy protection. La-Z-Boy jumped 19.9% after reporting stronger profit and revenue for the latest quarter than expected. Silk Road Medical jumped 23.7% after Boston Scientific agreed to buy the medical device company in a cash deal valuing it at roughly $1.26 billion. France’s CAC 40 rose 0.7%. Japan’s Nikkei 225 rose 1%. Akio Toyoda, grandson of the automaker’s founder, will remain as chairman of the board.
https://www.whec.com/national-world/stock-market-today-wall-street-drifts-around-its-records-as-bond-yields-ease/
==========
U.S. stocks are drifting around their records as bond yields ease. The S&P 500 was 0.2% higher a day after setting a record for the 30th time this year. The Dow Jones Industrial Average was up 85 points, or 0.2%. Stocks got some lift from easing yields in the bond market. Treasury yields fell after a report showed sales at U.S. retailers returned to growth last month but remained below economists’ expectations. Bets built among traders that the Federal Reserve will cut rates at least once this year and possibly twice. The yield on the 10-year Treasury fell to 4.24% from 4.29% late Monday. The two-year yield dropped to 4.71% from 4.77%. Weaker-than-expected data could be a warning signal that spending by households, the main engine of the U.S. economy, is cracking. Inflation is still high, and consumers are struggling to keep up with the more expensive prices. Lennar, a homebuilder, fell 1.9% after co-CEO Stuart Miller said “challenged consumer sentiment” and swings in interest rates are testing the company. Fisker plunged nearly 60% after filing for Chapter 11 bankruptcy protection. La-Z-Boy jumped 19.9% after reporting stronger profit and revenue for the latest quarter than expected. Silk Road Medical jumped 23.7% after Boston Scientific agreed to buy the medical device company in a cash deal valuing it at roughly $1.26 billion. France’s CAC 40 rose 0.7%. Japan’s Nikkei 225 rose 1%. Akio Toyoda, grandson of the automaker’s founder, will remain as chairman of the board.
https://www.whec.com/national-world/stock-market-today-wall-street-drifts-around-its-records-as-bond-yields-ease/