NEW YORK, Aug 29 — Wall Street ended higher and US Treasury yields retraced earlier gains yesterday, capping the first session of a week likely to be light in volume but heavy with economic data that could affect whether the Federal Reserve will take a rate-hike breather in September.
“We’re in a news lull until we get back into earnings season and there’s more action and discussion coming from the Fed,” Carlson added. “China is having economic difficulty, they’re not making the bigger moves that are necessary to compensate,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “They’re just making fractional moves.
European stocks enjoyed their best day in a month, advancing 0.9 per cent under the power of China-related tech shares. US Treasury two-year yields retreated from a near two-month high, as investors struggled to gauge the likelihood of additional rate hikes from the Fed.
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