U.S. stocks pare gain; Pound, gilts drop on BOE comment - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 50%

Business News News

Business Business Latest News,Business Business Headlines

U.S. Stocks trimmed their advance and the pound and U.K. gilts weakened after the Bank of England said a report that it is likely to delay the sale of government bonds until the market has calmed was “inaccurate.”

European stocks surrendered most of their fourth day of gains. U.S. equity futures were still 1 per cent higher, after the S&P 500 closed above a key technical support level on Monday. Amazon.com Inc. and Microsoft Corp. led major technology and internet stocks higher in New York premarket trading on Tuesday.

The BOE's comment took some steam out of a recovery in risk assets spurred by positive company results, cheaper valuations that enticed buyers and after policy reversals soothed concerns about UK assets. With headwinds from inflation, risks to the economy and hawkish central banks continuing to confront markets, there's debate over how durable the gains will prove.

Bank of America Corp. said sentiment on stocks and global growth among fund managers it surveyed shows full capitulation, opening the way to an equities rally in 2023. The bank's monthly global fund manager survey “screams macro capitulation, investor capitulation, start of policy capitulation,” strategists led by Michael Hartnett wrote in a note on Tuesday. They expect stocks to bottom in the first half of next year after the Federal Reserve finally pivots away from raising interest rates.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pound and U.K. bonds rally; U.S. stocks, futures advance - BNN BloombergThe pound rallied and U.K. bonds surged as more of Prime Minister Liz Truss’s package of unfunded tax cuts were reversed. Stocks rose, with investors preparing for a number of key earnings reports this week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

China stocks slide as Xi disappoints on Covid zero policyChinese stocks resumed their decline as President Xi Jinping offered little sign of a shift away from Covid Zero in his key speech, disappointing investors who… What about this?
Source: VancouverSun - 🏆 49. / 61 Read more »

Gold resumes its slide amidst stocks' wild rideKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry. Why are they keeping this a secret Why is nooboody talking about this
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

S&P/TSX composite up nearly 400 points in late-morning trading, U.S. stocks also upGains in the technology and utility sectors helped lead a broad-based rally as Canada's main stock index gained nearly 400 points in late morning trading and U.S. stock markets also rallied. Let’s see if you report tomorrow when it’ll go down
Source: CTVNews - 🏆 1. / 99 Read more »