Markets today: Stocks rise amid ‘mixed bag’ of data before Powell

BNN Bloomberg's Jon Erlichman looks at how North American markets are shaping up for the trading day.

Equities were mildly higher — with the S&P 500 less than one per cent away from its all-time high. Treasury yields and the U.S. dollar rose slightly. “Our sense is Powell will maintain his dovish tone and signal a cutting cycle starting at the September meeting,” Senyek said. “However, contrary to what the futures market is pricing in for the remainder of 2024, we do not believe the Fed Chair will signal a cut larger than 25 basis points.”

• Carlyle Group Inc. is acquiring Advance Auto Parts Inc.’s Worldpac unit for US$1.5 billion, striking the first major industrial investment for the firm in more than two years.

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