The Nasdaq Composite was down 0.2%. While normally not a market-moving datapoint, recent worries about the economy have market participants grasping for any updates that counter concerns about a recession. The next major piece of data for the stock market will likely be Wednesday’s consumer price index for July.
Stocks clawed back most of the losses from early in the week after five days of historic volatility on Wall Street.
A perfect storm: weak US jobs data, Middle East tensions, and Japan’s policy shift ignite global market chaos. Is this the beginning of the end for the bull market? Octa broker takes a deep dive into Monday’s market meltdown.
- The number of Americans filing new applications for unemployment benefits fell more than expected last week, adding to the uncertainty over the conditions in the...
The stock market blew its biggest lead since 2022 after a weak auction of 10-year Treasury notes gave traders the excuse they needed to take some profits. The Dow Jones Industrial Average fell 234 points, or 0.6%, after rising as much as 480 points this morning. The S&P 500 closed down 0.8% while the Nasdaq Composite dropped 1.1%.
(Reuters) -U.S. Treasury yields rose on Wednesday after the Treasury Department saw soft demand for a $42 billion sale of 10-year notes and as companies rushed to sell debt as risk appetite improved. Yields tumbled to more than one-year lows after Friday’s employment report for July showed an unexpected increase in the unemployment rate, while jobs gains also came in below economists’ forecasts, raising fears of an imminent recession. This demand has since ebbed as stocks move higher, but Treasury yields remain well below where they have recently traded, which was seen as denting interest in Wednesday's debt auction.
The stock market was rising again to start the day on Wednesday as the big indexes continued to climb out of the hole left by Monday’s selloff. The Nasdaq Composite rose 1.6%. Bank of Japan Deputy Governor Shinichi Uchida gave global markets a lift after he said central bank officials were rethinking plans to raise rates amid market volatility.
Rate cuts will help, but there’s still a shortfall of close to 2 million homes in the country, according to Moody’s.
The stock market was looking to mount a comeback after growing fears about an economic slowdown hammered the major U.S. indexes. The yield on the 2-year Treasury note was down to 3.936%. The yield on the 10-year Treasury note rose to 3.83%.
Wall Street is wondering "what's next" after the biggest single-day decline in two years yesterday.