A month ago, some of those same traders were betting on the federal funds rate ending the year as much as half a percentage point lower than that. Northern Trust rallied 7% after likewise topping analysts’ estimates for profit and revenue in the latest quarter. Of those companies, 79% are beating profit estimates by a median of 6%, while 58% are beating revenue estimates by a median of 2%, according to data from Fundstrat. A big surge in bond yields this week served as a big hurdle for investors following a strong rally since the start of the month. Treasury yields have been climbing after a raft of reports have shown the U.S. economy remains stronger than expected. That’s good news for Wall Street, because it bolsters hopes that the economy can escape from the worst inflation in generations without the painful recession that many had worried was inevitable.
Investments created by our experts
If you’re not sure which investments are right for you, please request advice, for example from our financial advisers. If you decide to invest, read our important investment notes first and remember that investments can go up and down in value, so you could get back less than you put in. Momentum has reversed for stocks this week as pressure has increased from rising Treasury yields. Higher yields can make investors less willing to pay high prices for stocks, which critics say already look too expensive after they rose faster than corporate profits. Both averages ended a six-week win streak on Friday, while a rally in mega-cap tech stocks helped fuel a seventh week of gains and a fresh record high for the Nasdaq. Traders are now largely expecting the Fed to cut its main interest rate by half a percentage point more through the end of the year, according to data from CME Group.
Stock market today: S&P 500 ends 6-week win streak, while Nasdaq rises on mega-cap rally
A similarly hot number would likely temper rate-cut expectations further as markets see less urgency from the Fed to prop up the economy. US stocks traded mostly lower on Friday, capping off a down week for the S&P 500 and Dow Jones Industrial Average. Hargreaves Lansdown may not share the views expressed in articles provided by ShareCast or other sources. "We expect to see further evidence of generative AI moving along its growth https://momentum-capital-crypto.net/ curve and continued shift from experimentation to widespread monetization," he added. Commentary surrounding AI monetization trends will be top of mind for investors when they parse through the earnings reports.
Stock market today: Wall Street slumps to a rare 3-day losing streak
The 10-year US Treasury yield has surged nearly 20 basis points this week as macro data points suggest the economy remains resilient and on solid footing.
AIM and small cap news
Of those companies, 79% are beating profit estimates by a median of 6%, while 58% are beating revenue estimates by a median of 2%, according to data from Fundstrat.
A big surge in bond yields this week served as a big hurdle for investors following a strong rally since the start of the month.
A similarly hot number would likely temper rate-cut expectations further as markets see less urgency from the Fed to prop up the economy.
US stocks traded mostly lower on Friday, capping off a down week for the S&P 500 and Dow Jones Industrial Average.
Coca-Cola fell 2.1% even though it reported stronger profit and revenue for the latest quarter than analysts expected. The company benefited from higher prices for its products, but a lot of focus was on how much product the company shipped during the quarter, and that fell short of some estimates. Texas Instruments climbed 4% after the semiconductor company reported stronger profit and revenue than analysts expected. While revenue from industrial users declined from the prior quarter, CEO Haviv Ilan said all other end markets grew. Our website offers information about investing and saving, but not personal advice.
Market Data
Coli food poisoning linked to McDonald’s Quarter Pounder hamburgers has sickened at least 49 people in 10 states, including one person who died and 10 who were hospitalized, federal health officials said. The Dow Jones Industrial Average dropped 409 points, or 1%, while the Nasdaq composite tumbled 1.6% after Nvidia and other Big Tech stocks were among the market’s heaviest weights. The S&P 500 sank 0.9% for its first three-day losing streak since early September. It was coming off two small losses since setting an all-time high on Friday, and the pullback follows a superb run where the index had rallied to six straight winning weeks, its longest such streak of the year. NEW YORK (AP) — U.S. stocks fell Wednesday as more steam came out of Wall Street’s huge, record-breaking rally.
Traders next week will sift through several economic data updates, including September personal consumption expenditures, which is the Fed’s preferred inflation gauge, as well as the October jobs report. The company reported a loss of more than $6 billion for the latest quarter. Later Wednesday, Boeing factory workers voted 64% against Boeing’s latest contract offer, opting to continue a six-week strike that has halted production of the aerospace giant’s bestselling jetliners. “Slowly, then suddenly,” stock investors have been noticing the moves in the bond market, https://www.euronews.com/business/2024/09/17/how-to-make-finance-great-again-trumps-new-cryptocurrency-debuts along with the rally for the U.S. dollar’s value against other currencies, according to Jonathan Krinsky at BTIG. In the bond market, the yield on the 10-year Treasury rose again to 4.23% from 4.21% late Tuesday and from just 4.08% Friday.
