Anonymous ID: c64d67 Nov. 10, 2023, 11:33 a.m. No.19894416   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>4438

Wall St roars back, helped by tech, calming Treasury yields

 

  • All S&P 500 sectors gaining

  • Investors looking ahead to CPI nextwee

  • Illuminia falls on annual profit forecast cut

  • Indexes up: Dow 0.91%, S&P 1.33%, Nasdaq 1.83%

Nov 10 (Reuters) - Wall Street's main indexes rallied on Friday, boosted by heavyweight tech and growth stocks as Treasury yields calmed, while investors looked ahead to a next week's important reports on inflation and other economic data.

Equities bounced back from sharp declines the previous session which followed hawkish comments from Federal Reserve Chair Jerome Powell about interest rates. Thursday's decline ended the longest winning streaks in two years for the S&P 500 (.SPX) and the Nasdaq Composite (.IXIC). Investors have been focused on benchmark Treasury yields, which have eased somewhat from 16-year highs, and the path of monetary policy as they assess whether the Fed might be done raising rates to control inflation and when the central bank could start cutting rates.

Next week the consumer price index report will be key, along with data on producer prices and retail sales, which will further shape interest rate projections. Helping supporting equities, the yield on the benchmark 10-year Treasury note was little changed at 4.63% after a jump on Thursday which was also driven by a weaker-than-expected 30-year bond auction.

 

(since itโ€™s a Friday just gonna ignore this-Data on Friday showed U.S. consumer sentiment fell for a fourth straight month in November, and households' expectations for inflation rose again.)

 

https://www.reuters.com/markets/us/futures-mixed-after-powells-hawkish-tone-more-data-awaited-2023-11-10/