https://sputnikglobe.com/20220328/us-stocks-up-as-oil-bond-yields-drop-allaying-some-inflation-fears-1094273455.html
US Stocks Up as Oil, Bond Yields Drop Allaying Some Inflation Fears
US Stocks Up as Oil, Bond Yields Drop Allaying Some Inflation Fears
Sputnik International
NEW YORK (Sputnik) - US stocks rose broadly for a third session in a row on Monday after oil prices tumbled and Treasury yields fell, allaying some investor... 28.03.2022, Sputnik International
2022-03-28T21:58+0000
2022-03-28T21:58+0000
2022-03-28T21:58+0000
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Wall Street’s three stock indexes - the S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite - closed up 0.8% on the average. Nasdaq, which houses the biggest technology names of the world, including Amazon, Apple, Netflix and Googl, rose more than 1% on its own to lead gains.The US ten-year Treasury note, which serves as an indicator of "real inflation," fell 1.2%.Oil prices, meanwhile, tumbled 7% in Monday’s official session, reacting to China’s lockdown of its Shanghai financial hub over a COVID-19 scare. The market fell further in post-settlement trade on a Financial Times report that Russia was no longer demanding Ukraine be de-Nazified in ceasefire talks.But the head of the Russian delegation to the talks, Vladimir Medinsky, told reporters that a Moscow-Kyiv agreement without Ukraine’s demilitarization, de-Nazification and recognition of Crimea and the two breakaway republics in the Donbas, will be unlikely.Some equities analysts warned that trading on Wall Street could remain volatile this week with investors awaiting multiple speeches on the economy and monetary policy from Federal Reserve officials, before Friday’s all-important US jobs report for March.US inflation, measured by the Consumer Price Index (CPI), grew 7.0% in 2021, and 7.9% during the year to February - both at their fastest in four decades. The CPI’s expansion outpaces economic growth at 5.7% last year and projected at 2.8% this year.The Federal Reserve, whose tolerance for inflation is a mere 2% per year, has vowed to bring inflation back to its target with a series of rate hikes through 2023.In Monday’s trade, the S&P 500 - which groups the top 500 US stocks - closed up 32 points, or 0.7%, at 4,575. The Dow Jones Industrial Average, which lists travel, aviation and cross-industry value stocks, rose 95 points, or 0.3%, to settle at 34,956. The Nasdaq Composite finished up 186 points, or 1.3%, at 14,355.
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us, us stocks, oil prices, wall street, s&p, dow jones industrials average index, nasdaq
US Stocks Up as Oil, Bond Yields Drop Allaying Some Inflation Fears
NEW YORK (Sputnik) - US stocks rose broadly for a third session in a row on Monday after oil prices tumbled and Treasury yields fell, allaying some investor concerns over inflation.
Wall Street’s three stock indexes - the S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite - closed up 0.8% on the average. Nasdaq, which houses the biggest technology names of the world, including Amazon, Apple, Netflix and Googl, rose more than 1% on its own to lead gains.
The US ten-year Treasury note, which serves as an indicator of "real inflation," fell 1.2%.
Oil prices, meanwhile, tumbled 7% in Monday’s official session, reacting to
China’s lockdown of its Shanghai financial hub over a COVID-19 scare. The market fell further in post-settlement trade on a Financial Times report that Russia was no longer demanding Ukraine be de-Nazified in ceasefire talks.
But the head of the Russian delegation to the talks, Vladimir Medinsky, told reporters that a Moscow-Kyiv agreement without Ukraine’s demilitarization, de-Nazification and recognition of Crimea and the two breakaway republics in the Donbas, will be unlikely.
Some equities analysts warned that trading on Wall Street could remain volatile this week with investors awaiting multiple speeches on the economy and monetary policy from Federal Reserve officials, before Friday’s all-important US jobs report for March.
“It’s been a bumpy start to the trading week as bond yields remain elevated as inflation fears continue to chip away whatever solid footing remains for the US economy,” Ed Moya, analyst at online trading platform OANDA, said. “Wall Street might be poised for some sideways price action for equities given all the persistent uncertainty with geopolitical risks.”
US inflation, measured by the Consumer Price Index (CPI), grew 7.0% in 2021, and 7.9% during the year to February - both at their fastest in four decades. The CPI’s expansion outpaces economic growth at 5.7% last year and projected at 2.8% this year.
The Federal Reserve, whose
tolerance for inflation is a mere 2% per year, has vowed to bring inflation back to its target with a series of rate hikes through 2023.
In Monday’s trade, the S&P 500 - which groups the top 500 US stocks - closed up 32 points, or 0.7%, at 4,575. The Dow Jones Industrial Average, which lists travel, aviation and cross-industry value stocks, rose 95 points, or 0.3%, to settle at 34,956. The Nasdaq Composite finished up 186 points, or 1.3%, at 14,355.
