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

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
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

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 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»Wall Street mixed, Treasury yields rise on solid U.S. economic data
Business

Wall Street mixed, Treasury yields rise on solid U.S. economic data

June 29, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

[1/2]The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 28, 2023. REUTERS/Staff

  • Jobless claims unexpectedly fall, GDP revised higher
  • U.S. banks rise after Fed’s banking stress test
  • Dollar strengthens, Treasury yields rise after data

NEW YORK, June 29 (Reuters) – U.S. stocks were mixed and benchmark Treasury yields jumped on Thursday as robust economic data helped stave off recession fears, but also raised the likelihood that the Fed will keep its restrictive policy in place for longer than expected.

Financials (.SPSY) led the gainers after the Federal Reserve’s stress test showed U.S. lenders have adequate capital to weather an economic storm.

The Dow was up most among the three major U.S. stock indexes, the S&P 500 was up only nominally while the Nasdaq lingered in negative territory, weighed down by interest rate sensitive megacaps.

Smallcaps were clear outperformers, with the Russell 2000 well ahead of the pack, up 1.2%.

“What we have seen year-to-date is a very narrow rally that is occasionally punctuated by participation from the smaller stocks,” said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. “I believe we’re ahead of where we should be, and most observers are perplexed by the failure of valuations to retreat.”

A surprise drop in initial jobless claims and a sharp upward revision in first-quarter GDP underscored U.S. economic resilience and further cemented the likelihood that the Fed will raise interest rates at least once, and maybe twice more, this year.

“Good news is bad news,” Green added. “So long as the economic data remains strong it becomes easy for the Fed to continue raising rates or at least maintain restrictive policy for longer.”

See also  Forbes 30 Under 30 Member Charlie Javice Charged For Alleged $175 Million Fraud Scheme

Financial markets have priced in an 87% probability that the central bank will implement another 25 basis point hike to the Fed funds target rate at the conclusion of its upcoming July policy meeting, according to CME’s FedWatch tool.

The Dow Jones Industrial Average (.DJI) rose 137.45 points, or 0.41%, to 33,990.11, the S&P 500 (.SPX) gained 1.7 points, or 0.04%, to 4,378.56 and the Nasdaq Composite (.IXIC) dropped 40.47 points, or 0.3%, to 13,551.28.

European shares moved higher as better-than-expected U.S. data helped calm jitters over a global economic slowdown and over hawkish signals from world bank leaders.

The pan-European STOXX 600 index (.STOXX) rose 0.11% although MSCI’s gauge of stocks across the globe (.MIWD00000PUS) was flat.

Emerging market stocks lost 0.60%. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.57% lower, while Japan’s Nikkei (.N225) rose 0.12%.

Treasury yields rose after economic reports painted a picture of a solid U.S. economy, promoting the “higher for longer” scenario with respect to restrictive monetary policy.

Benchmark 10-year notes last fell 35/32 in price to yield 3.8461%, from 3.712% late on Wednesday.

The 30-year bond last fell 55/32 in price to yield 3.9035%, from 3.804% late on Wednesday.

The dollar gained ground against a basket of world currencies, boosted by the upbeat economic data.

The dollar index (.DXY) rose 0.31%, with the euro down 0.22% to $1.0887.

Dollar performance

The Japanese yen weakened 0.10% versus the greenback at 144.66 per dollar, while sterling was last trading at $1.2617, down 0.18% on the day.

Oil prices extended fuelledday’s gains, as the solid economic data suggested strong demand and a steeper-than-expected drop in U.S. crude inventories.

See also  German Govt Agrees to Pay Rise Deal with Labour Unions to Avoid Strikes

U.S. crude rose 0.96% to $70.23 per barrel and Brent was last at $75.05, up 1.09% on the day.

Gold prices hovered around the key $1,900 level, its gains hampered by the strengthening dollar.

Spot gold added 0.3% to $1,912.29 an ounce.

Reporting by Stephen Culp; Additional reporting by Marc Jones in London; Editing by Susan Fenton

: .

data Economic mixed rise Solid Street Treasury U.S Wall yields
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Sony-Zee Merger: Indian Media Turning Point or Linear TV Decline?

August 14, 2023

ESPN Announcer Apologizes for Saying Indigenous Player’s Name Sounds Like ‘Toilet Paper’ Brand

May 11, 2023

BlackRock’s Hildebrand reportedly taking part in UBS, Credit Suisse talks

March 20, 2023

‘Answer The Question!’: Mark Warner Yells At Jamieson Greer Over Tariffs During Hearing

April 8, 2025
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 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 (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Jim Jordan 2nd Weaponization Of Government Hearing Was An Even Bigger Disaster

March 9, 2023

One Key Moment Of Fed Chair’s ’60 Minutes’ Interview Leaves Financial Markets In A Frenzy

February 5, 2024

Controversial Trans Teacher With Z-cup Breasts Gets New Gig

August 29, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

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