BNN Bloomberg's Jon Erlichman looks at how North American markets are shaping up for the trading day.
Equities rebounded sharply as data showed U.S. initial jobless claims tumbled by the most in nearly a year, with the numbers also coming below estimates. As economic angst subsided, Treasuries dropped across the curve. While swap traders have reduced their bets on jumbo rate cuts, they are still pricing in about 40 basis points worth of easing for September.
To Ian Lyngen at BMO Capital Markets, the jobless claims data is being interpreted as evidence the labour market remains solid. All major groups in the S&P 500 gained, with the benchmark up about one per cent. The Bloomberg “Magnificent Seven” gauge added 0.7 per cent. The Russell 2000 of smaller firms climbed 1.1 per cent. Eli Lilly & Co. soared 13 per cent on a bullish outlook. Treasury 10-year yields advanced six basis points to four per cent. The U.S. dollar was little changed.
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:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Markets today: Stocks climb around the world on dovish BOJ signalStocks climbed around the globe and bonds fell after the Bank of Japan moved to reassure markets in the wake of historic volatility sparked in part by the Asian nation’s unexpected rate hike last week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Markets today: Stocks bounce back after selloff as bonds retreatStocks bounced back after selloff that erased about US$6.5 trillion from global equity markets in the past few weeks.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Markets today: Stocks rise on Fed-friendly data as Meta jumps 10%Stocks rose after the latest economic figures signaled further cooling that will be key for the U.S. Federal Reserve to cut interest rates.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Markets today: Stocks advance ahead of Microsoft, central banksU.S. stocks were set to extend gains as traders prepared for a raft of economic data releases, U.S. tech earnings and central bank decisions that will be critical in shaping the trajectory of market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Stock market news today: Stocks wobble to kick off huge week for marketsInvestors are bracing for a big week filled with a Fed rate decision, the jobs report and Big Tech earnings.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Markets today: Stocks rally ahead of big week for rates, earningsU.S. stock futures strengthened on the back of equity gains in Europe and Asia, signaling rising optimism ahead of major central bank decisions and big tech earnings due this week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »