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Happy ending to a positive Tuesday

By Minipip
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Indices thrive, treasury yields continue to retreat and energy stocks outperform the majority.

Stock markets

- The Dow surged for a second consecutive day , relying on hope that the Fed might pivot from its hawkish route of monetary policy tightening as data indicated sings of a slowing labour demand. The Dow Jones gained 2.8% (826 points), Nasdaq was up 3.3% and the S&P seen a 3% rise (investing.com).

Treasury Yields 

- Treasury yields continued their retreat in hope of a less hawkish Federal Reserve, benefiting growth sectors of the economy including tech adding to Monday's gains.

Energy stocks 

- Energy stocks were the biggest high performers in today's markets as oil prices climbed 3% ahead of the OPEC+ meeting that is expected to come to a decision to curb oil production. Hess, Halliburton and Marathon Oil, were the biggest performers. All up more than 6% each (investing.com).

JOLTs

- Job openings fell to the lowest since June last year, experts estimated a forecast of 10.775 million but the data showed a downfall of 10.053 million (cnbc.com). According to a banking company Jefferies, they were very "broad-based" and spanned the majority of industries and all business sizes.

ECB

- ECB policymaker Villeroy announced that the European Central bank will increase interest rates as much as required to tame inflation. Although, the pace could possibly lower once comes the new year. According to the governor 4.8% in euro zone core inflation, which disregards energy and food prices beyond the central banks control, was too high and to broad (investing,com). Additionally, president Lagarde made a statement that the European Central Bank must stop fluctuating the economy, as a bare minimum, through its monetary policy (cnbc.com). Meaning raising interest rates back to neutral territory. 


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