{"id":71165,"date":"2023-10-10T20:03:58","date_gmt":"2023-10-11T00:03:58","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stocks-post-third-day-of-gains-as-treasury-yields-fall-and-hopes-rise-for-end-to-fed-rate-hikes\/"},"modified":"2023-10-10T20:04:00","modified_gmt":"2023-10-11T00:04:00","slug":"u-s-stocks-post-third-day-of-gains-as-treasury-yields-fall-and-hopes-rise-for-end-to-fed-rate-hikes","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71165","title":{"rendered":"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002597643\" role=\"document\">\n<p>U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be finished raising interest rates. <\/p>\n<h2>How stocks traded <\/h2>\n<ul class=\"articleList\">\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       added 134.65 points, or 0.4%, Tuesday to end at 33,739.30.<\/p>\n<\/li>\n<li>\n      The S&amp;P 500<br \/>\n        SPX<br \/>\n       gained 22.58 points, or 0.5%, to finish at 4,358.24<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP<br \/>\n       rose 78.60 points, or 0.6%, to close at 13,562.84<\/p>\n<\/li>\n<li>\n      The Dow rose 1.9% in the past 3 sessions, the largest 3-day percentage advance since August 29, according to Dow  Jones Market Data.<\/p>\n<\/li>\n<\/ul>\n<p>On Monday, the Dow Jones Industrial Average rose 197 points, or 0.6%, to 33605, the S&amp;P 500 increased 27 points, or 0.6%, to 4336, and the Nasdaq Composite  gained 53 points, or 0.4%, to 13484.<\/p>\n<div class=\"paywall\">\n<h2>What drove markets<\/h2>\n<p>Tuesday\u2019s leg higher in stocks came as anxiety over violence in the Middle East was counteracted by comments from Federal Reserve officials suggesting a recent tightening of credit conditions may reduce the need for another interest rate hike by the central bank. <\/p>\n<p>On Tuesday morning, Raphael Bostic, president of the Atlanta Fed, added to the view, saying he doesn\u2019t think any more interest rate increases are needed. <\/p>\n<p>Meanwhile, Minneapolis Federal Reserve President Neel Kashkari on Tuesday said the recent runup in U.S. long-term bond yields is puzzling. Mary Daly, president of the San Francisco Fed, will also speak Tuesday at a town hall event at 6 p.m.<\/p>\n<p>Bostic and the rest of Tuesday\u2019s speakers follow Fed Vice Chair Philip Jefferson, who said on  Monday the central bank could \u201cproceed carefully\u201d following the recent surge in Treasury yields. The same day, Fed Bank of Dallas President Lorie Logan said the surge in long-term yields may mean less need for additional increases in borrowing costs.<\/p>\n<p>\u201cUS stocks are rallying after a steady dose of dovish Fed speak has traders convinced rate hikes are over,\u201d Edward Moya, senior market analysts at Oanda wrote in a Tuesday note. \u201cAlso providing a boost to sentiment is the report that China is considering more support for the economy, potentially raising its budget deficit this year. <\/p>\n<p>\u201cLast week was all about an intensifying bond market selloff but that seems to be over following the surprise attack by Hamas on Israel,\u201d he added. \u201cA long-lasting bond market rally seems unlikely given major structural shifts of higher bond supply and on uncertainty with demand.\u201d <\/p>\n<p>The 10-year Treasury BX:TMUBMUSD10Y, which was not trading Monday because of a U.S. national holiday, saw its yield dive 12.9 basis points to 4.654% on Tuesday.<\/p>\n<p>Bostic\u2019s comments helped the stock market maintain its upward momentum Tuesday, said Sonu Varghese, global macro strategist and vice president at Carson Group.  \u201cThe main driver remains the Fed, and it was a reminder to everyone that remains the case,\u201d Varghese said. <\/p>\n<p>Richard Hunter, head of markets at Interactive Investor, echoed the point. \u201cEven with the evolving situation in the Middle East, investors remained focused on the  Fed\u2019s current thinking on interest rates and the need to contain inflation,\u201d Hunter said. <\/p>\n<p>Traders on Tuesday were pricing in an 86% chance that the Fed will leave its policy interest rates unchanged after its November meeting, according to the CME FedWatch Tool. The chances of a 25 basis point rise in December came to 14%, down from 28% just a week ago.<\/p>\n<p>But there is plenty of economic data and Fed official commentary to digest before then. Particularly important will be the producer and consumer inflation numbers for September, released on Wednesday and Thursday this week respectively. Third quarter earnings season also kicks off this week with major bank earnings Friday. <\/p>\n<p>\u201cEquity markets have been underpinned by a reprieve in yields and crude oil prices,\u201d said Quincy Krosby, LPL Financial\u2019s chief global strategist. \u201cFinancial markets \u00a0are keenly focused on the release of key inflation-related data this week and Friday\u2019s \u2018official\u2019 opening of the earnings season, while simultaneously monitoring events in the Middle East.\u201d<\/p>\n<p>Tuesday had its own batch of U.S. economic data. August wholesale inventories dropped 0.1%, matching forecasts. The numbers mark the sixth straight decline month to month. Meanwhile, consumers\u2019 inflation expectations for the near- and midterm were mostly steady, according to the Federal Reserve Bank of New York\u2019s monthly survey of consumer expectations. <\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n      <strong>PepsiCo Inc.<\/strong>\u00a0<br \/>\n        PEP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208744353\/composite\" class=\"positive\">+1.88%<\/bg-quote><br \/>\n       closed up 1.9% Tuesday, after the beverage and snack giant reported third-quarter earnings that topped consensus and raised its full-year guidance. <\/p>\n<\/li>\n<li>\n      <strong>Palantir Technologies<\/strong><br \/>\n        PLTR,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/221054928\/composite\" class=\"positive\">+1.08%<\/bg-quote><br \/>\n       rose 1.1% on news that the data analytics company was awarded a $250 million contract to test and develop artificial intelligence and machine learning by the U.S. Army. <\/p>\n<\/li>\n<li>\n      <strong>Rivian Automotive Inc.<\/strong><br \/>\n        RIVN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230726939\/composite\" class=\"positive\">+4.58%<\/bg-quote><br \/>\n       shares ended 4.6% higher Tuesday after a buy rating from analysts at UBS. Production and other fundamentals \u201clook brighter\u201d for the electric vehicle maker, analysts said.  <\/p>\n<\/li>\n<\/ul>\n<p>\u2014 Jamie Chisholm contributed. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-advance-as-treasury-yields-dive-59bf4e8f?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be finished raising interest rates. How stocks traded The Dow Jones Industrial Average DJIA added 134.65 points, or 0.4%, Tuesday to end at 33,739.30. The S&amp;P 500 SPX gained 22.58 points, or [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-71165","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=71165\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=71165\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-11T00:03:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-11T00:04:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683045457_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=71165#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=71165\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes\",\"datePublished\":\"2023-10-11T00:03:58+00:00\",\"dateModified\":\"2023-10-11T00:04:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=71165\"},\"wordCount\":810,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=71165#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=71165\",\"url\":\"https:\/\/ifintechworld.com\/?p=71165\",\"name\":\"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-11T00:03:58+00:00\",\"dateModified\":\"2023-10-11T00:04:00+00:00\",\"description\":\"U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=71165#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=71165\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=71165#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes | iFintechWorld","description":"U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=71165","og_locale":"en_US","og_type":"article","og_title":"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes | iFintechWorld","og_description":"U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be","og_url":"https:\/\/ifintechworld.com\/?p=71165","og_site_name":"iFintechWorld","article_published_time":"2023-10-11T00:03:58+00:00","article_modified_time":"2023-10-11T00:04:00+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683045457_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=71165#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=71165"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes","datePublished":"2023-10-11T00:03:58+00:00","dateModified":"2023-10-11T00:04:00+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=71165"},"wordCount":810,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=71165#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=71165","url":"https:\/\/ifintechworld.com\/?p=71165","name":"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-11T00:03:58+00:00","dateModified":"2023-10-11T00:04:00+00:00","description":"U.S. stocks closed higher Tuesday, as Treasury yields fell and fresh comments from Federal Reserve officials bolstered hopes the the central bank may be","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=71165#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=71165"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=71165#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"U.S. stocks post third day of gains as Treasury yields fall and hopes rise for end to Fed rate hikes"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/71165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71165"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/71165\/revisions"}],"predecessor-version":[{"id":71166,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/71165\/revisions\/71166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/3263"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}