Stocks were in a rally mode Thursday, buoyed by a slump in Treasury yields on bets that the Federal Reserve is done raising interest rates after holding its benchmark rate steady for the second meeting in a row.
Equities ended higher overnight following a slump in Treasury yields after the Federal Reserve kept rates steady for second-straight meeting.
Equities ground higher overnight, led by big tech, ahead of the earnings from Apple later this week, and the Federal Reserve’s interest rate decision due Wednesday.
Equities bounced overnight, led by big tech, ahead of the earnings from Apple later this week, and the Federal Reserve’s interest rate decision due Wednesday.
Big tech regained some ground after a rough week and the DOW slumped as investors digested contrasting corporate earnings as Amazon and Intel impressed, but underwhelming results from oil majors including Chevron left energy stocks nursing heavy losses.
The so-called Magnificent Seven – Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia and Tesla – have wiped about $US200 billion off their value following this season’s reporting results.
Todays close in the S&P500 notches a fifth daily decline in six sessions, closing below the key 4,200 level. The Nasdaq slumped to 4-month lows, having its biggest single-session percentage drop since February, breaking the key 14,500 level, also the 200ma
Stocks finished higher on Tuesday as a spate of solid corporate earnings and upbeat forecasts stoked investor risk appetite and sparked a broad rally.
Australian job numbers surge, while hopes for Chinese stimulus dwindle as rates remain unchanged. US tech giants, Netflix and Tesla, disappoint with earnings slips.
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