U.S. stocks reversed early gains and the dollar and bond yields rose Tuesday after data showed the U.S. economy remained strong at year-end, potentially limiting the scope for Federal Reserve rate cuts. European stocks held their gains after rallying Monday following a report that President-elect Donald Trump's aides are considering narrower tariffs than previously thought. U.S.
services sector activity accelerated in December, beating expectations, and a measure of prices surged, the Institute for Supply Management's survey data showed. Separate figures showed U.S. job openings unexpectedly increased in November, but a softening in hiring pointed to a slowing labor market. After opening higher, at 10:20 a.m. ET the S&P 500 (.SPX) was down 30.15 points, or 0.50%, to 5,945.23 and the Nasdaq Composite (.IXIC) fell 191.61 points, or 0.96%, to 19,671.68. The Dow Jones Industrial Average (.DJI) fell 72.43 points, or 0.17%, to 42,634.13. Investors in late 2024 lowered their expectations for rate cuts from the Fed this year as the labor market remained robust and growth showed few signs of slowing. They went further Tuesday, anticipating around 33 basis points of cuts this year, down from closer to 40 before the data, according to LSEG data. U.S. 10-year Treasury yields, which set the tone for borrowing costs around the world, rose more than 7 basis points to 4.69%, the highest since May. The Treasury is set to sell $39 billion of 10-year notes and $22 billion in 30-year bonds Tuesday. Europe clung to its gains, with the continent-wide STOXX 600 index (.STOXX) last up 0.2%. It rose 0.95% on Monday following the report on tariffs, which caused shares of automakers to rally
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Källa: KitcoNewsNOW - 🏆 13. / 78 Läs mer »
Källa: BNNBloomberg - 🏆 83. / 50 Läs mer »