Dow turns lower as stocks threaten to snap longest winning streak in 2 years

U.S. stocks turned lower Wednesday, threatening to snap a winning streak that’s pushed the S&P 500 index up more than 6% over seven days.

New York Fed President John Williams is giving the keynote speech at that conference at 1:40 p.m.; Fed Vice Chair for Supervision Michael Barr speaks at the NAHB conference at 2 p.m.; and Fed Vice Chair Phillip Jefferson makes the closing remarks at the research conference at 4:45 p.m. Driving the advance was a sharp fall in implied borrowing costs after last week’s Federal Reserve statement, and soft October jobs data bolstered hopes that interest rate cuts could soon be on the horizon, according to Derren Nathan, head of equity research at Hargreaves Lansdown.

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Will a stock-market rally follow a peak in bond yields? It depends.William Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.
Source: MarketWatch - 🏆 3. / 97 Read more »

Dow edges higher as stocks attempt to build on longest winning streak in 2 yearsWilliam Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.
Source: MarketWatch - 🏆 3. / 97 Read more »