Concerns over economic growth prospects as well as the impact of policy tightening on the back of consumer price index (CPI) data to be released on Wednesday, have prompted a rebound on Wall Street.
Meanwhile, investors who also re -evaluated the inflation outlook have pushed the 10 -year benchmark note, which last rose 22/23 in price to a yield of 2.9947%, falling from a 3 -year high of 3.79%.
During the session, most of the index was in the red area before it closed slightly higher with the tech index leading gains as investors reacted to the fall in bond yields.
The Dow Jones Industrial average fell 84.96 points or 0.26% at 32,160.74, the S&P 500 hit 9.81 points or 0.25% at 4,001.05 and the Nasdaq Composite added 114.42 points or 0.98% at 11,737.67.
Wells Fargo Investment Institute senior market strategist Sameer Samana explained that significant changes in long -term interest rates may open the door to soaring equities.
MSCI’s worldwide stock benchmark reached 0.08%.
According to Cleveland Federal Reserve (Fed) President Loretta Mester, unemployment may rise and growth may slow, so she argues that tightening should not cause a ‘continuous downturn’.
This has been backed up by Matthew Miskin, head of investment strategy at John Hancock Investment Management, noting that a hawkish tone will influence market movements.
The currency summary saw the dollar index which measures a number of other major currencies rise 0.193% with the Euro down 0.24% at $ 1.053.
Western Union Business Solutions senior analyst Joe Manimbo argues the situation is now calm before inflation data is published tomorrow and this has left room for risky assets to take root.
Meanwhile, the Japanese Yen weakened 0.10% against the dollar at 130.40 per dollar while Sterling was down 0.14% at $ 1.2314.
Sport gold was down 1.0% at $ 1,835.86 an ounce as investors paid close attention to the dollar’s rise and awaited inflation data.
Bitcoin, meanwhile, rose 3.7% after falling to its lowest level since July 2021 and its bounce has recovered Monday’s losses of 11.8%.
