U.S. Stocks Close Lower, Pressured By Tech Weakness And Rising Bond Yields

U.S. stocks closed slightly lower on Thursday, as a decline in technology and high-dividend sectors offset a pronounced rally in the energy sector.

The Dow Jones Industrial Average fell 0.2% to 24,715. The S&P 500 lost 0.1% to 2,720. The Nasdaq Composite Index ended down by 0.2% to 7,383. Both the Dow and the Nasdaq were pressured by Cisco Systems Inc. which dropped 3.8% a day after reporting services revenue that missed expectations. Investors also continued to monitor a rise in bond yields; the yield on the 10-year Treasury note rose near a seven-year high.

That pressured the so-called defensive sectors of the market, such as utilities and real estate, both of which offer higher dividend yields than the broader market, and which had been favored by income-seeking investors prior to the gain in bond yields. The utility sector fell 0.9% while the real-estate sector lost 0.5%.

Source : Market Watch

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Stock market opens flat, but fights to bounce back after rising rates rattle Wall Street

U.S. stocks opened little changed to slightly higher on Wednesday as investors wrestled with rising rates, with bond yields holding at multiyear peaks after surging on Tuesday on brisker-than-expected retails sales and manufacturing.

The Dow Jones Industrial Average was trading flat, up less than 0.1% at 24,711 after halting an eight session rally Tuesday as investors were spooked by the climb in the 10-year Treasury note to the highest level since 2011 above 3% on Tuesday. on Wednesday rates mostly held their ground as investors digested the recent moves in government paper.

The S&P 500 index advanced slightly, picking up 0.1% at 2,714, while the Nasdaq Composite Index rose about 0.1% to 7,358.

Source: marketwatch

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China Stocks Fall on Worries about N.Korea, Rising Bond Yields

China stocks edged lower on Wednesday, as renewed worries over North Korea and surging U.S. bond yields dampened sentiment in Asian markets, while investors await news from a second round of U.S.-China trade talks in Washington this week.

The blue-chip CSI300 index fell 0.8 percent, to 3,892.84, while the Shanghai Composite Index lost 0.7 percent to 3,169.57 points.

Pyongyang abruptly called off talks with Seoul, throwing a U.S.-North Korean summit into doubt. The cancellation could see tensions on the Korean peninsula flare again even as investors worry about China-U.S. trade talks and the sustainability of global economic growth. Meanwhile, strong U.S. retail sales and factory data on Tuesday pushed the U.S. 10-year yield through a key level to hit 3.095 percent, its highest since July 2011, raising worries about higher borrowing costs for companies worldwide.

Source : Reuters

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