Wall Street: US bond yield at over five percent - S&P year-end target lowered
The yield on 10-year US Treasury bonds reaches its highest level since 2007. Investors are looking ahead to the Fed's interest rate decision tomorrow - and concerns about a slowdown in AI growth persist.
US markets are experiencing slight pressure, with 10-year US Treasury yields rising above 5% and Brent oil prices steady at $108 per barrel. The Federal Reserve is expected to raise interest rates at its meeting tomorrow, and investors are eagerly awaiting the new interest rate projections and press conference. Wells Fargo strategists have lowered their year-end target for the S&P 500 to 7,700 points, citing high valuations, decreasing liquidity, and heavily invested investors as concerns.
Despite this, they expect earnings estimates to rise, and have adjusted their ratings for several stock sectors, including downgrading tech stocks to "Neutral" and upgrading healthcare stocks to "Overweight". Broadcom CEO Hock Tan reports strong demand in his sector, contradicting concerns about slowing growth in AI.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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