Stocks were mixed on Monday after the benchmark 10-year Treasury yield briefly rose above 5%, before retreating as investors increasingly accept interest rates will stayThe ongoing sell-off in bonds and worries about an escalation in Middle East hostilities are weighing on the market, as it waits forthis week. Stocks have stuttered as the "new normal" of elevated borrowing costs has sunk in, after Fed chair Jerome) was down about 4 basis points at 4.
"The “Magnificent Seven” have gotten all the credit for carrying the market this year, but “Magnificent Mondays” have been just as important," Bespoke's team wrote on Monday.The United Auto Workers extended their strike against the Big Three Detroit automakers on Monday. The union initiated a walkout of about 6,800 workers at the Stellantis’ Sterling Heights Assembly Plant in suburban Detroit.
upward momentum, has been a fool’s errand to say the least, our best estimate is that buyers for the 10-year U.S. Treasury yield will step in more aggressively as we approach the 2006/2007 highs near 5.25% ."Roivant shares surged 7%. The Swiss pharma giant Roche said it will pay $7.1 billion to acquire the rights to Roivant's bowel-disease drug, Telavant.
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