Equities gave back yesterdays gains as Apple led a stumble in tech despite unveiling its latest iPhone, but jump in energy stocks kept losses in check a day ahead of fresh inflation data.
Equities rode tesla and big tech higher at the start of the week ahead of Apple’s eagerly anticipated iPhone 15 launch due Tuesday and inflation data later this week.
Equities ended higher Friday, but that wasn’t enough to prevent a weekly loss as Treasury yields racked up gains for the week amid fears that the Fed may have to persist with higher for longer rates.
Equities were mixed overnight with the market being weighed down by tech stocks, as investors continued to worry about interest rates remaining higher for longer.
Equities were weighed down by rising Treasury yields, but a rally in energy stocks kept a lid on losses as oil prices climbed after major oil producers agreed to extend their oil production cuts.
Equities ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month
The ASX closed higher in low volume trade with focus turning to a Reserve Bank of Australia meeting on Tuesday and a US holiday tonight
Equities ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month
Equities ground higher for a fourth-straight day as signs of a slowing U.S. economy bolstered bets on a Federal Reserve pause next month.
Equities ended higher overnight as Treasury yields slipped after weaker economic data stoked optimism that the Federal Reserve will likely skip rate hikes in September.
Equities ended higher Monday, underpinned by a 3M-led surge in industrials ahead of a flurry of data this week that will play into the Federal Reserve’s policy decision next month.
Equities finished mixed as Fed Chief, Jerome Powell was hawkish in his Jackson Hole speech Friday,