• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Stocks slip, US yields steady but growth outlook dims
Business

Stocks slip, US yields steady but growth outlook dims

September 19, 2023No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • Fed rate decision Wednesday, BOE Thursday, BOJ Friday
  • Benchmark Treasury yield hits almost 16-year high
  • U.S. crude hits fresh 10-month highs, SocGen slumps
  • China Evergrande drops 25% before regaining ground

NEW YORK, Sept 18 (Reuters) – Global equities slid and the 10-year Treasury yield traded close to a 16-year high on Monday amid rising concerns that the Federal Reserve’s higher-for-longer message on interest rates will take a toll on U.S. consumers.

Rising oil prices, a possible government shutdown in less than two weeks and the United Auto Workers strike against the Detroit Three automakers could all slow a U.S. economy that is still running strong with the pace of inflation too high.

“There is concern about the economy and that’s related directly to the increase in interest rates, the Fed funds rate. It’s making it more difficult for people to buy houses, buy cars and borrow money in general,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder.

While the market has discounted a rate hike when the Fed concludes a two-day policy meeting on Wednesday, the possibility remains of another hike in the future.

“The Fed is unlikely to raise at this meeting,” Ghriskey said. But I think they’re in an every-other meeting raise cycle, unless we really see significant improvement in inflation.”

Global crude benchmark Brent came close to $95 a barrel in a further surge in oil prices. The market shrugged the surge off last week due to the resilience of the U.S. economy and key inflation data for August showing a decelerating trend.

But rising oil prices will crunch the consumer, especially with the resumption of student loan payments in October, said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.

See also  China’s Xi says countries share responsibility to promote growth

“Higher oil prices are a tax on consumption,” Chandler said. “Most of the economic downturns since the ’70s have taken place after an oil shock, mostly a doubling of the price of oil.”

The benchmark 10-year Treasury yield was at 4.3125%, just below the 4.366% level reached on Aug. 22, and the two-year yield rose further above 5%.

While futures show just a 1% chance that the U.S. central bank hikes interest rates on Wednesday, the market expects the Fed to keep its overnight lending rates above the 5% mark until late July 2024.

“With inflation still well above the Fed’s 2% target, another rate increase is certainly more likely to occur before any rate cuts, despite the fondest wishes of the markets,” said Saira Malik, chief investment officer at Nuveen in a note.

MSCI’s gauge of stocks across the globe (.MIWD00000PUS) closed down 0.24%. The pan-European STOXX 600 index (.STOXX) lost 1.05%, hit by lowered growth outlooks as Societe Generale’s shares slumped 12.05% after a keenly awaited strategic plan from its new chief executive disappointed investors.

France’s third-biggest listed bank said it expected little if any growth in annual sales over the coming years in a keenly awaited strategic plan from its new chief executive.

In London, the export-heavy FTSE 100 (.FTSE) posted its worst day in over a month, falling 0.8% on a 6.1% drop in automobiles and parts.

Wall Street’s main indices seesawed for most of the session to eke out nominal gains at the close. The Dow Jones Industrial Average (.DJI) rose 0.02%, the S&P 500 (.SPX) added 0.07% and the Nasdaq Composite (.IXIC) edged up 0.01%.

See also  Stocks climb as inflation ticks up but trends stay positive: Stock market news today

China property woes, geopolitical tensions and ongoing strikes also stoked worries about global growth.

Shares of property developer China Evergrande Group (3333.HK) plunged 25% on Monday after police detained some staff at its wealth management unit. Fellow developer Country Garden (2007.HK) faced another liquidity test with a deadline to pay $15 million in interest linked to an offshore bond.

The disappearance of China’s defense minister heightened uncertainty about President Xi Jinping’s stance on international engagement.

CENTRAL BANKS

Global central banks take center stage, with five of those overseeing the 10 most-heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks including Turkey and South Africa will also meet.

On Thursday, the Bank of England is tipped to hike for the 15th time and take benchmark borrowing costs to 5.5%.

The Bank of Japan is the key risk event on Friday. Markets are looking for any signs that it could be moving away from its ultra-loose policy faster than previously thought, after recent comments by Governor Kazuo Ueda sent yields much higher.

The Swedish crown sank to a record low against the euro on Monday, days before the Riksbank is expected to raise interest rates again.

In other currencies, the dollar slid 0.166% to 105.07 after recently trading within sight of six-month highs. The dollar lost strength as the day progressed.

The euro gained about 0.30% to $1.069, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signaled its rate hikes could be over.

See also  Traders raise bets on stocks falling as S&P 500 nears new bull market

Against the yen , the dollar was slid 0.17% at 147.58.

U.S. crude rose 71 cents to settle at $91.48 a barrel, while Brent settled up 50 cents at $94.43, after earlier hitting $94.95.

Gold prices gained, helped by a slight pullback in the dollar as investors awaited key central bank policy decisions this week.

U.S. gold futures settled 0.4% higher at $1,953.40 an ounce.

Reporting by Herbert Lash; Additional reporting by Nell Mackenzie and Dhara Ranasinghe in London and Stella Qiu in Sydney; Editing by William Maclean and Lisa Shumaker

: .

Acquire Licensing Rights, opens new tab
dims growth outlook Slip steady Stocks yields
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

VIDEO: Stanford law students mock, shout down federal judge; judge says DEI dean set him up

March 18, 2023

Charles Schwab stock pops 12% after Q2 results beat expectations

July 23, 2023

Explosive 60 Minutes Report on US Funding of Ukraine: US Paying Salaries of 57,000 First Responders, Subsidizing Small Businesses in War Torn Country(Video) | The Gateway Pundit

September 25, 2023

New maps show antimicrobial resistance varies within Wisconsin neighborhoods

July 28, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

China formalizes rules for overseas IPOs

February 20, 2023

Michelle Obama’s Brand Fails Administration’s Own Health Standards

May 20, 2023

Bill Maher spills the beans on liberals backing the Palestinian cause: ‘These are the values that you support?’

October 16, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.