Wall Street is finding a positive pace

LAST UPDATE 22:15

Wall Street indexes are finding their uptrend, after the sign exchanges earlier in another session of increased nervousness against the background of rising bond yields and the warning of Target Corp. for the course of its profitability in the coming months.

Bond yields returned to an upward trajectory at the beginning of the week, with the 10-year yield climbing above the psychological level of 3% on Monday as investors await the announcement of inflation data in May on Friday. The 10-year yield is losing 6 basis points at 2.981% today after yesterday’s jump to the highest level since May 11, at 3.064%.

Measuring inflation for May will help investors get a better picture of the central bank’s next moves as the need for higher interest rate hikes by 50 basis points continues to curb inflation.

At the same time, Federal Reserve executives are forced to abstain from public statements ahead of the central bank meeting on June 14 and 15, exacerbating uncertainty. The European Central Bank is meeting on Thursday and is expected to pave the way for raising interest rates in July, launching a policy tightening. Earlier today, the Reserve Bank of Australia surprised markets by raising interest rates by 50 basis points, the largest rate hike in 22 years.

Indicators – Statistics

On the board, the Dow Jones adds 176.79 points or 0.54% to 33,086.43 points, while the S&P 500 gains 27.51 points or 0.67% to 4,148.94 points. The technology Nasdaq is up 85.13 points or 0.71% at 12,146.96 points.

Of the 30 stocks that make up the Dow Jones industrial average, 24 are moving with a positive sign and six with a negative one. Salesforce traded up $ 4.12, or 2.25%, to $ 186.99, followed by Chevron at $ 180.55, up 2.10% and Apple at $ 1.71. % at $ 148.64

On the other hand, the three stocks with the biggest losses are Home Depot (-1.31%), Walmart (-1.30%) and Walgreens Boots Alliance (-1.27%).

In business development, Target Corp. loses more than 3% as the retail chain downgraded its profitability forecasts for the second time.

In particular, Target Corp cut its quarterly margin estimates just a few weeks ago, warning that it would have to offer bigger discounts and reduce product stockpiling as inflation cuts consumer spending.

The retailer said it would cut prices in the second quarter, cancel orders to optimize inventory, speed up parts of the supply chain and prioritize categories such as food and household necessities.

Kohl’s title jumped 9.7% after a Wall Street Journal article reported that the Franchise Group was in talks to buy the department store for about $ 8 billion.