{"id":76091,"date":"2023-10-24T02:59:52","date_gmt":"2023-10-24T06:59:52","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/sp-500-in-choppy-trade-as-tech-rallies-after-treasury-yields-run-out-of-steam\/"},"modified":"2023-10-24T02:59:55","modified_gmt":"2023-10-24T06:59:55","slug":"sp-500-in-choppy-trade-as-tech-rallies-after-treasury-yields-run-out-of-steam","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76091","title":{"rendered":"S&P 500 in choppy trade as tech rallies after Treasury yields run out of steam"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Investing.com — The S&P 500 swung between gains and losses Monday, amid choppy trade as investors weighed up\u00a0retreating Treasury yields and a rally in tech stocks to ahead of the quarterly earnings from big tech this week.<\/p>\n

The rose 0.3%, the\u00a0 fell 0.2%, and the\u00a0 fell 0.6% or 191 points.<\/p>\n

Treasury yields retreat from highs<\/h2>\n

Treasury yields slipped following their recent multi-year highs, with the yield on the falling to 4.854% after rising to a 16-year high of 5.025%.<\/p>\n

The surge in longer-term Treasury yields have been driven by several factors including stronger-than-expected economic growth and stubborn inflation as well as a jump in supply as the U.S. Treasury steps up the pace of borrowing.<\/p>\n

The move comes just over a week ahead of the Federal Open Market Committee two- day meeting slated for Oct. 31. The Fed is expected to keep next month.<\/p>\n

Big tech back in vogue ahead of quarterly earnings<\/h2>\n

Tech stocks started the week on the front foot as investors look ahead to big tech earnings, with Microsoft Corporation (NASDAQ:) and Alphabet (NASDAQ:) set to report September quarter results on Tuesday.<\/p>\n

Alphabet climbed despite fresh regulatory concerns after the Japanese Federal Trade Commission launched an investigation for alleged antitrust violations concerning whether the company shared ad-revenue with android phone makers in return for pre-installing Google’s apps including its search engine rather than rival apps.\u00a0 \u00a0<\/p>\n

Meta Platforms (NASDAQ:), International Business Machines (NYSE:), Amazon (NASDAQ:) and Intel (NASDAQ:) report results on Wednesday and Thursday, respectively.<\/p>\n

Energy struggles as Chevron <\/span><\/span> weighs after $53B deal to buy Hess<\/h2>\n

Chevron Corp (NYSE:) fell more than 3%, weighing on the broader energy sector after the oil and gas giant agreed to buy Hess Corporation (NYSE:) for $53 billion.<\/p>\n

The deal is expected to strengthen Chevron’s assets in Guyana and boost its\u00a0overall oil and gas output.<\/p>\n

As well as the decline in Chevron, sentiment on energy stocks were also pressured by a 2% fall in oil prices despite the ongoing concerns about possible oil supply disruptions amid the ongoing Israel-Hamas conflict.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com — The S&P 500 swung between gains and losses Monday, amid choppy trade as investors weighed up\u00a0retreating Treasury yields and a rally in tech stocks to ahead of the quarterly earnings from big tech this week. The rose 0.3%, the\u00a0 fell 0.2%, and the\u00a0 fell 0.6% or 191 points. Treasury yields retreat […]<\/p>\n","protected":false},"author":1,"featured_media":10349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-76091","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nS&P 500 in choppy trade as tech rallies after Treasury yields run out of steam | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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