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Search resuls for: "Sinéad Carew Bansari Mayur Kamdar"


3 mentions found


☆ S&P 500 ends slightly higher ahead of Powell testimony, upcoming data
  + stars: | 2023-03-07 | by ( Sinéad Carew Bansari Mayur Kamdar | Sinéad Carew | Bansari Mayur Kamdar | ) www.reuters.com   time to read: +4 min
March 6 (Reuters) - The S&P 500 made little progress on Monday, closing slightly higher than its session low as U.S. Treasury yields pulled higher with investors braced for this week's testimony from Federal Reserve Chair Jerome Powell and the February jobs report. Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. "People are worried about the jobs number and the economic data because they're worried about what the Fed will do. According to preliminary data, the S&P 500 (.SPX) gained 2.72 points, or 0.07%, to end at 4,048.36 points, while the Nasdaq Composite (.IXIC) lost 12.59 points, or 0.11%, to 11,676.41. Since Powell last spoke strong economic data and hotter than expected inflation have raised concerns the Fed will raise rates higher than expected or keep them higher for longer.
☆ S&P 500 barely gains ahead of Powell testimony, jobs report
  + stars: | 2023-03-06 | by ( Sinéad Carew Bansari Mayur Kamdar | Sinéad Carew | Bansari Mayur Kamdar | ) www.reuters.com   time to read: +4 min
Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. "People are worried about the jobs number and the economic data because they're worried about what the Fed will do. And with potential Fed rate hikes their key concern, Monday's data had already dampened investor enthusiasm, said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago. Since Powell last spoke strong economic data and hotter than expected inflation have raised concerns the Fed will raise rates higher than expected or keep them higher for longer. The S&P 500 posted 20 new 52-week highs and one new low; the Nasdaq Composite recorded 85 new highs and 92 new lows.
☆ Wall St pares gains with Powell testimony, upcoming data in focus
  + stars: | 2023-03-06 | by ( Sinéad Carew Bansari Mayur Kamdar | Sinéad Carew | Bansari Mayur Kamdar | ) www.reuters.com   time to read: +4 min
Shares of iPhone maker Apple Inc (AAPL.O), last up 2%, were the biggest boost for the S&P 500 index (.SPX) after Goldman Sachs initiated coverage with a "buy" rating. Correlation between S&P 500 and 2-year Treasury bond yieldsMonday's data likely dampened investor enthusiasm, said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago. Six of 11 major S&P 500 sectors rose. Since Powell last spoke strong economic data and hotter than expected inflation have raised concerns the Fed will raise rates higher than expected or keep them higher for longer. The S&P 500 posted 20 new 52-week highs and one new low; the Nasdaq Composite recorded 74 new highs and 71 new lows.
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