{"id":74431,"date":"2023-10-19T11:04:07","date_gmt":"2023-10-19T15:04:07","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stocks-climb-treasury-yields-rise-as-investors-await-powell\/"},"modified":"2023-10-19T11:04:10","modified_gmt":"2023-10-19T15:04:10","slug":"u-s-stocks-climb-treasury-yields-rise-as-investors-await-powell","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=74431","title":{"rendered":"U.S. stocks climb, Treasury yields rise as investors await Powell"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002634151\" role=\"document\">\n<p>U.S. stocks opened marginally higher Thursday, struggling to reverse losses from earlier in the week, while Treasury yields rose as investors waited to hear from Federal Reserve Chairman Jerome Powell. <\/p>\n<h2>How are stocks trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      The S&amp;P 500<br \/>\n        SPX<br \/>\n       rose 2 points, or 0.1%, to 4,317.<\/p>\n<\/li>\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       gained 35 points, or 0.1%, to 33,691. <\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP<br \/>\n       rose by 11.5 points, or 0.1%, to 13,327. <\/p>\n<\/li>\n<\/ul>\n<p>On Wednesday, the Dow Jones Industrial Average fell 333 points, or 0.98%, to 33,665, snapping a three-day winning streak and dropping the main indexes into the red for the week. Stocks were rattled by rising Treasury yields and concerns about Israel\u2019s war with Hamas continued to plague stocks. <\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Lingering fears that the Hamas-Israel war may escalate, alongside a spike in benchmark bond yields, kept a lid on stocks\u2019 advance early Thursday, as the tech-heavy Nasdaq took the lead thanks to gains in the so-called \u201cMagnificent Seven\u201d stocks. <\/p>\n<p>Still, investors remained focused on bond yields as the 10-year Treasury yield rose,<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       moving to within a few basis points of 5%, its highest level since the summer of 2007. It was up roughly 3 basis points on the day, according to FactSet data. <\/p>\n<p>Looking ahead, traders should be eager to hear from Powell when he addresses the  the Economic Club of New York at noon. Many will be listening to hear what he might have to say about rising Treasury yields and how they\u2019re impacting the Fed\u2019s thinking after other senior Fed officials said they could be a reason for the central bank to forego further interest-rate hikes. <\/p>\n<p>\u201cInvestors are desperate for a bit more clarity on how policy makers view the landscape ahead and want clues on how long they\u2019ve had to wait before cuts are on the cards,\u201d said Susannah Streeter, head of money and markets at Hargreaves Lansdown. <\/p>\n<p>Other Fed officials making comments on Thursday include Chicago Fed President Austan Goolsbee speaking in Madison, Wisconsin at 1:20 p.m., and Fed Vice Chair for Supervision Michael Barr speaking at a Boston Fed conference at 1:30 p.m. <\/p>\n<p>Labor-market data released Thursday came in stronger than expected, as the number of Americans who applied for unemployment benefits last week fell to a nine-month low of 198,000, defying expectations that layoffs would rise as higher U.S. interest impact the economy. <\/p>\n<p>Meanwhile, a gauge of regional business activity published by the Philadelphia Fed remained in contractionary territory for the second straight month in October.<\/p>\n<p>Existing home sales and leading economic indicators, both covering September, will be released at 10 a.m.<\/p>\n<p>Meanwhile, the third quarter corporate earnings reporting season moves on, with results from AT&amp;T<br \/>\n        T,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203165245\/composite\" class=\"positive\">+6.60%<\/bg-quote><br \/>\n       and Blackstone<br \/>\n        BX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203156858\/composite\" class=\"negative\">-6.18%<\/bg-quote><span>,<\/span><br \/>\n       which surpassed expectation. Reports from Western Alliance Bancorp<br \/>\n        WAL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206020866\/composite\" class=\"negative\">-0.27%<\/bg-quote><span>,<\/span><br \/>\n       CSX<br \/>\n        CSX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208536759\/composite\" class=\"negative\">-0.10%<\/bg-quote><br \/>\n       and Intuitive Surgical<br \/>\n        ISRG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/204935713\/composite\" class=\"negative\">-1.08%<\/bg-quote><br \/>\n       are set to follow after the bell. <\/p>\n<p>In terms of the wider market the results late Wednesday from Netflix<br \/>\n        NFLX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202353025\/composite\" class=\"positive\">+15.20%<\/bg-quote><br \/>\n       and Tesla<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"negative\">-8.60%<\/bg-quote><br \/>\n       have pretty much canceled each other out, with shares in the streaming giant jumping 12.5% on well-received numbers but the electric vehicle maker losing 7% following cautious comments from Elon Musk. <\/p>\n<p>Tesla was the only maker of the Magnificent 7 to trade in the red early Thursday, while shares of Amazon.com Inc.<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"positive\">+2.24%<\/bg-quote><br \/>\n       were up 2% while shares of chipmaker and AI darling Nvidia Corp.<br \/>\n        NVDA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200467500\/composite\" class=\"positive\">+1.40%<\/bg-quote><br \/>\n       were up 1.6%. <\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n       <strong>Equifax Inc. <\/strong>shares<br \/>\n        EFX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208789454\/composite\" class=\"positive\">+0.80%<\/bg-quote><br \/>\n       sank after the credit-score agency cut its outlook for the year, over concerns that high mortgage rates are causing mortgage credit inquiries to track at a 37% decline for the year. <\/p>\n<\/li>\n<li>\n      <strong>American Airlines Group Inc.<\/strong><br \/>\n        AAL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209207041\/composite\" class=\"positive\">+5.50%<\/bg-quote><br \/>\n       bounced sharply off a three-year low into positive territory early Thursday, even after the air carrier reported third-quarter revenue that came up a bit short and provided a downbeat profit outlook.<\/p>\n<\/li>\n<li>\n      <strong>Las Vegas Sands<\/strong>\u00a0<br \/>\n        LVS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208792014\/composite\" class=\"positive\">+3.31%<\/bg-quote><br \/>\n       saw its shares jump, bringing up other casino stocks, after it noted a recovery at its resorts in Macau and Singapore. <\/p>\n<\/li>\n<\/ul><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-extend-losses-as-treasury-yield-nears-5-powell-speech-looms-7574cd86?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks opened marginally higher Thursday, struggling to reverse losses from earlier in the week, while Treasury yields rose as investors waited to hear from Federal Reserve Chairman Jerome Powell. How are stocks trading The S&amp;P 500 SPX rose 2 points, or 0.1%, to 4,317. The Dow Jones Industrial Average DJIA gained 35 points, or [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":74432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-74431","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 climb, Treasury yields rise as investors await Powell | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stocks opened marginally higher Thursday, struggling to reverse losses from earlier in the week, while Treasury yields rose as investors waited to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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