Treasury yields climbed on Monday, while stocks ended the day higher than last week after the sale. All three of the major U.S. indices ended a four-session losing streak. You can read today’s complete market roundup here.
Netflix shares rose after Hollywood writers agreed to a draft agreement that would end their months-long strike. Warner Bros. Discovery and Walt Disney declined, while Paramount rose.
Investors were looking forward to Thursday’s updated reading of the second-quarter GDP as well as Friday’s consumer spending data and Federal Reserve’s preferred measure of inflation. Nike and Costco will be reporting earnings this week.
As at Monday’s closing:
Stocks have made modest moves.
Nasdaq and S&P 500 were marginally higher. This month, the blue-chip Dow fell less than the technology-focused Nasdaq.
Energy ranked as the top performing sector in the S&P 500, while consumer staples lagged behind.
Benchmark Treasury Yields rose.
The 10-year Treasury settled at 4,541%, its highest level by the end of the day since October 2007. The Fed announced last week that it would keep interest rates higher for longer. This pushed yields up.
European bond rates soared.
Germany’s 10-year bond yield rose to its highest level in 12 years, following a survey that showed the business sentiment was less deteriorated than expected.
Oil price fluctuated.
The global benchmark crude oil, Brent, settled at just over $93 per barrel after reaching $95 a barrel last week. In Monday’s trading , some travel stocks, such as cruise shares, fell.
Most overseas stocks fell.
Chinese and European stocks fell, while Japan’s Nikkei gained less than 1 percent. The Stoxx 600 index in Europe has been falling for three days.
By Chelsey dulaney and Charley Grant
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