Stocks traded higher in a volatile pattern and bond yields edged near recent highs. Global markets advanced and tech stocks led gainers in New York and Asia and financials in Europe.
Market averages traded higher on Monday after popular indexes halted 3-week long slide in the previous week. Investors pinned hopes on China stimulus and commodities and energy prices drifted higher.
Major averages turned higher and bond yields held near 16-year highs as investors debated prospects of higher rates after Fed Chairman Jerome Powell's speech.
U.S. market averages turned lower after investors shifted focus to the upcoming comments from the Fed Chair Jerome Powell, Tech stocks tumbled and Nvidia's quarterly results surpassed most optimistic expectations.
Market rally powered by the expectations of strong quarterly results fizzled after the chipmaker Nvidia reported a surge in sales and earnings fueled by demand for its Ai-processors. Investors shifted attention to Fed Chair Powell's comments on Friday.
Market averages on Wall Street closed higher after a narrow rally in tech stocks powered the advance. New home sales jumped after buyers struggled to find existing homes. U.S. Treasury yields eased after touching 16-year highs.
Stocks struggled and Treasury yields traded near 16-year high as investors shift focus to macroeconomic headwinds from rising rates and its impact on the banking sector.
Tech stock buyers returned to drive major averages higher despite the 10-year Treasury bonds trading at 16-year high. Investors set aside worries of rising bond yields and a potential interest rate hike and snapped up popular mega-cap tech stocks.
A rebound in tech stocks lifted broader market averages on Wall Street and the yield on 10-year Treasury bonds jumped to the level last seen since 2007.
Another leg up in Treasury yields dented market sentiment and dragged market averages lower as the sentiment shifted in favor of rate-hike from rate-pause after the release of Fed's policy meeting minutes.
Stocks accelerated declines in the final hour of trading after banks fell as much as 3% on the worries of a possible downgrade from another rating agency. World markets remained depressed after China reported several economic indicators suggesting uneven and weakening recovery.
