![]() ![]() The two-year Treasury yield, which moves more on expectations for the Fed, fell to 4.85% from 4.95%.Īn expectation for higher yields is one of the reasons Barry Bannister, managing director at Stifel, says the S&P 500 could hit a pause after its big first half of the year and end 2023 at 4,400. It helps set rates for mortgages and other important loans. Treasury yields eased back a bit on Monday The 10-year Treasury yield slipped to 3.99% from 4.06% late Friday. banks that rattled confidence in the system. That’s caused Treasury yields to jump back toward their highest levels since March, before high rates helped cause the collapses of several U.S. Such talk has helped erase many earlier bets among traders that the Fed may not only halt its hikes to interest rates this year but also to cut them. The Fed has acknowledged inflation has slowed since last summer, when it peaked just above 9%, But it’s also hinted that it may raise rates one or two more times this year before holding them at a high level to ensure inflation returns to its 2% target. They’re forecasting consumer prices were 3.1% higher in June than a year earlier, down from 4% inflation in May. ![]() The hope is that inflation is easing enough for the Federal Reserve to soon halt its hikes to rates, which have already caused cracks in the banking industry and other corners of the economy.Ī report on Wednesday will offer the latest monthly update on inflation at the consumer level, and economists expect it to show another slowdown. economy can avoid a long-predicted recession despite high interest rates meant to pull down inflation. The big question hanging over Wall Street is whether the U.S. But it also warned of a expectations for a slower economy. The company behind OXO, Hydro Flask and other brands jumped 17.5%. On the winning side of Wall Street was Helen of Troy, which said profit and revenue fell by less last quarter than analysts expected. It said the “unforeseen and unprecedented” declines would hurt its results for the spring and full year. Eastern time, and the Nasdaq composite was 0.1% higher.įMC, an agricultural sciences company, tumbled 10.8% for the biggest loss in the S&P 500 after it warned of a sudden drop in business across most of the world toward the end of May as partners burned through inventory levels. The Dow Jones Industrial Average was up 172 points, or 0.5%, at 33,907, as of 2:43 p.m. The S&P 500 rose 0.1% in afternoon trading, coming off just its second losing week in the last eight. NEW YORK (AP) - Stocks are drifting on Wall Street Monday ahead of a week with updates on where inflation and corporate profits are heading. At the end of the week companies will also start telling investors how much profit they made during the spring. This week will offer the latest monthly update on inflation, and Wall Street’s hope is that a continued slowdown will convince the Federal Reserve to soon stop hiking interest rates. The Dow added 0.6% and the Nasdaq rose 0.2%. The S&P 500 rose 0.2% Monday, coming off just its second losing week in the last eight. NEW YORK (AP) - Stocks drifted higher on Wall Street ahead of a week with updates on where inflation and corporate profits are heading. ![]()
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