Stay ahead of the game with insights on rising Treasury yields and their impact on markets. Earnings from tech giants loom—what’s in store for Microsoft and Google?
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Tech Earnings Awaited, Investor Sentiment Reacts to Rising Bond Yields
Today in the stock market, investors are closely monitoring a notable development as the 10-year Treasury yield briefly breaches the 5% mark, sparking implications for the trading day. Meanwhile, anticipation mounts for tech giants set to release their earnings this week.
Here are the key takeaways:
The benchmark 10-year Treasury yield saw an early-morning surge, reaching approximately 5.02% before a slight retracement. This is a significant milestone, as it marks the first time the 10-year yield has surpassed 5% since 2007.
In recent trading sessions, bond yields have experienced a sharp uptick, partly attributed to remarks from Federal Reserve Chair Jerome Powell. Powell’s comments downplayed concerns of tight monetary policy, rekindling worries among investors that an interest rate reduction might be deferred.
Earnings season is picking up momentum this week. However, today is expected to be relatively quiet in terms of results. Notably, on Tuesday, Microsoft and Google parent company Alphabet are set to announce their earnings, among others.
According to FactSet, 73% of S&P 500 companies that have reported earnings thus far have exceeded expectations. This figure, while substantial, falls slightly below the five-year average of 77% for the same period.
As the trading day commenced:
Stock indexes showed a slight decline, with the S&P 500, Dow industrials, and the tech-focused Nasdaq each slipping by approximately 0.5%.
Chevron made headlines with its announcement of a $53 billion acquisition of Hess, marking a significant development in the oil industry. The move had varying effects on Hess stock, and experts weigh in with their insights.
As per Stock Market Today -Apple shares experienced a drop as Foxconn, one of its major suppliers, reported cooperation with Chinese authorities following investigations mentioned in state media.
In Asian and European markets, stock indexes witnessed declines, with China’s CSI 300 index dropping to its lowest point since 2019. Hong Kong markets remained closed in observance of a holiday acc to Stock Market today.
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