Key Wall Street indexes are moving in mixed sign on Monday against the backdrop of rising government bond yields as investors wait for the Federal Reserve to adjust its policy rapidly this year to counter the inflation rally.
The indices have also recorded a strong upward rally in recent days, with the S&P 500 gaining a total of 8% in the last two weeks, showing the best performance since November 2020.
Markets continue to follow developments in the Ukraine war in the hope that new talks between the two sides this week will lead to something more tangible. Ukrainian President Volodymyr Zelensky said yesterday that Ukraine was ready to discuss the adoption of a neutral regime as part of a peace agreement with Russia, but added that there should be guarantees from third parties and any agreement should be put to a referendum. . At the same time, he rejected Russia’s demands for the demilitarization of the country.
The White House, meanwhile, has sought to ease tensions following President Joe Biden’s remarks on ousting Vladimir Putin from power, saying the United States was not seeking regime change in Moscow.
Indicators – Statistics
On the board, the Dow Jones lost 119.72 points or -0.34% at 34,741.52 points, while the broader S&P 500 added 8.34 points or 0.18% to 4,551.17 points. The Nasdaq technology is up 130.73 points or 0.90% at 14,296.96 points.
Of the 30 stocks that make up the Dow Jones industrial average, nine are moving with a positive sign and 21 with a negative. The biggest increase is recorded by Microsoft with gains of $ 5.87 or 1.93% at $ 309.55, followed by Salesforce.com at $ 214.03 with an increase of 1.42% and Visa with gains of 0 , 52% to $ 219.56.
On the other hand, the three stocks with the biggest losses are the Dow (-2.23%), Chevron (-2.2%) and JPMorgan Chase (-1.97%).
Bond prices continue to fall, with the 10-year yield climbing above 2.5% earlier to then de-escalate close to 2.45%. Last week, key Federal Reserve executives made public statements on the need for the central bank to tighten its policy this year to address the jump in inflation to a 40-year high. Most officials see another six interest rate hikes by the end of the year, with the hikes continuing into 2023.
At the end of the day, the US trade deficit in commodities fell slightly in February to $ 106.6 billion after two months of rising.
Source: Capital
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