Treasury yields rise as investors raise bets on Fed rate hike: AlphaCheck
Good morning. The stock market opened on a downward trend on Thursday, as investors monitored long-term bond yields in response to high oil prices ahead of this week's critical inflation report. Analysts are currently estimating a 62% probability of a Federal Reserve rate increase before their upcoming meeting.
According to a heat map of market data from Yahoo Finance's AlphaSpace, the 2-year yield climbed 10 basis points to 4.53% during the early trading hours, indicating a shift in the perception that monetary policy will remain more aggressive. The 10-year Treasury bond (^TNX) remained around 4.91%, while Brent crude oil futures (BZ=F) reached above $105 per barrel due to ongoing tensions between Iran and the United States in the Middle East.
Technology stocks (XLK) experienced a decline of over 1%, with significant losses for Nvidia (NVDA) and Mag 7 companies. The materials sector (XLB), consumer discretionary (XLY), and industrials (XLI) also suffered losses on the same day. Some notable stocks being watched by Yahoo Finance readers include Apple (AAPL), Macy's (M), and Cloudflare (NET). For the most recent stock market updates and expert analysis, including events that influence stock prices, readers are encouraged to visit the full article.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
