U.S. stocks probably can’t resume their rally from the lows of last October until the recent sharp rise in longer-dated Treasury yields reverses, according to Robert Sluymer, technical strategist at RBC Wealth Management.
“Rising interest rates and a rising U.S. dollar DXY remain major headwinds for equities that will need to reverse for equities to bottom,” Sluymer wrote, in a Tuesday client note.rates, a move above 4.5%-5% by the U.S. 10-year yield has proven to be an important headwind for the secular uptrend for equities.
The Dow on Tuesday skidded 1.3%, posting its worst daily drop since the March banking crisis, cementing its lowest close since late May at 33,002, and erasing its gains for 2023, according to Dow Jones Market Data.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Stock Market Today: Dow ends lower on rising Treasury yields as US averts shutdown By Investing.comStock Market Today: Dow ends lower on rising Treasury yields as US averts shutdown
La source: Investingcom - 🏆 450. / 53 Lire la suite »
Steer clear of European luxury stocks, says RBC, as Citi upgrades the sectorEuropean luxury groups face a number of headwinds says RBC analyst. But Citi disagrees.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »