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11:11 a.m. Nov. 22, 2021 - By Christine Idzelis
Dow clings to gains as U.S. stocks end mostly lower Monday after Biden picks Powell as Fed ChairThe Dow Jones Industrial Average closed slightly higher Monday, clinging to gains after President Joe Biden announced that he picked Federal Reserve Chair Jerome Powell to serve a second term. The Dow gained less than 0.1%, while the Nasdaq Composite , a technology-heavy index viewed as sensitive to moves in interest rates, closed about 1.3% lower, and the S&P 500 slipped about 0.3%, according to preliminary data from FactSet. Although the S&P 500 slipped slightly, the index's financial sector rose more than 1%, FactSet data show. Shares of Wall Street banks rallied Monday, with Wells Fargo & Co. rising about 3% and Goldman Sachs Group Inc. , JPMorgan Chase & Co. and Morgan Stanley all rising more than 2%, preliminary data from FactSet show. The yield on the 10-year Treasury note rose 9 basis points to 1.625%, according to Dow Jones Market Data.
10:46 a.m. Nov. 22, 2021 - By Christine Idzelis
U.S. stock indexes trade mixed late afternoon Monday after Biden picks Powell to lead FedU.S. stock indexes were trading mixed heading toward the closing bell Monday, with the S&P 500 and Dow Jones Industrial Average each climbing higher while the Nasdaq Composite was down, after the White House announced earlier in the day that Federal Reserve Chairman to serve a second term. The Dow was up 0.8%, the S&P 500 was 0.6% higher and the Nasdaq was off about 0.2%, according to FactSet data, at last check. President Joe Biden's nominations of Powell to lead the Fed as Chair and Fed Gov. Lael Brainard to fill the position of Vice Chair, must be confirmed by the Senate. A sharp rise in shares of Wall Street banks Goldman Sachs Group Inc. and JPMorgan Chase & Co. helped fuel the Dow's rise Monday afternoon. Meanwhile, the technology-laden Nasdaq, seen as sensitive to interest rates moves, slid as the yield on the 10-year Treasury note rose to around 1.62%.
8:42 a.m. Nov. 1, 2021 - By Myra P. Saefong
Gold futures finish higher, but stay below the $1,800 markGold futures , but remained below the key $1,800 mark as the market awaited Wednesday's Federal Reserve decision on monetary policy. "The bear camp in gold and silver should be licking their chops as the markets widely expect the Fed to announce the beginning of tapering of asset purchases on Wednesday," analysts at Zaner wrote in Monday's report. "With the added pressure of a surge in the dollar form last week's lows and the recent rise in U.S. short-term interest rates, the bear camp has several themes operating in its favor. For now, December gold tacked on $11.90, or 0.7%, to settle at $1,795.80 an ounce after posting a loss of about 0.7% last week.
8:36 a.m. Oct. 28, 2021 - By Myra P. Saefong
Gold futures reclaim the $1,800-an-ounce markGold futures the $1,800 mark. Prices for the metal got a lift as missed expectations, easing concerns of a quicker liftoff in U.S. interest rates, said Chris Gaffney, president of World Markets at TIAA Bank. "Gold is widely seen as an inflation hedge, and rising inflation expectations should lend support to the price of precious metals." The GDP miss will help justify Federal Reserve Chairman Jerome Powell's arguments that "the economy is not in danger of overheating and interest rates will remain very accommodative for the foreseeable future." December gold rose $3.80, or 0.2%, to settle at $1,802.60 an ounce, the first most-active contract finish above $1,800 since Monday.
11:15 a.m. Oct. 27, 2021 - By Mark Decambre
Dow closes 266 points lower, halts string of gains as Nasdaq ekes out 3rd straight rise and Treasurys log steepest yield slide in 3 monthsThe Dow and S&P 500 closed lower Wednesday, ending a string of gains for the equity benchmarks that have been mostly rising to all-time highs on the back of upbeat quarterly results from American corporations. The Dow Jones Industrial Average closed down 266 points, or 0.7%, at about 35,491, the S&P 500 index closed 0.5% lower at 4,552. The Nasdaq Composite Index finished the session nearly unchanged at 15,236, as a retreat in yields for the 10-year Treasury note and the 30-year Treasury bond hit lows not seen since July 19, according to Dow Jones Market Data. Lower yields can buoy yield-sensitive sectors like information technology and investment factors like growth. In corporate results, Microsoft Corp. reported quarterly earnings that shot over $20 billion for the first time, late Tuesday, which helped to limit declines in the broader market and supported the tech sector on Wednesday. Microsoft shares rose 4.2% to $323.17, notching a record close, according to Dow Jones Market Data. Meanwhile, in a surprise move Wednesday, the Bank of Canada said it would abruptly end its bond-buying program and warned of prolonged inflation through 2023, while also signaling it may hike interest rates sooner than expected, the second quarter of 2022.
8:41 a.m. Oct. 25, 2021 - By Myra P. Saefong
Gold futures mark highest finish in almost 6 weeksGold futures climbed to their , with support from weakness in U.S. Treasury yields offsetting pressure from a rise in the dollar. The precious metal's relatively quiet price action "may wind up being the calm before the storm of a significant market move," said Tyler Richey, co-editor at Sevens Report Research. "Real interest rates are as low as they have been since the beginning of the pandemic, which is supportive of gold as rising inflation expectations are outpacing the rise in benchmark interest rates." December gold climbed $10.50, or 0.6%, to settle at $1,806.80 an ounce. Prices based on the most-active contract settled at their highest since Sept. 14, after posting a gain of about 1.6% last week, according to FactSet data.
11:13 a.m. Sept. 24, 2021 - By Mark Decambre
Dow, S&P 500 shake off Evergrande-inspired shocks, Fed tapering talk to end week solidly higher The Dow Jones Industrial Average and the S&P 500 ended higher Friday and the broader market notched weekly gains, capping a wild stretch for equity markets that was initially marked by a bout of uncertainty over the potential collapse of China property developer Evergrande. The outlook for the developer, with some $300 billion in debt, remains uncertain. Still, the Dow closed up 0.1% at around 34,798, the S&P 500 index finished up 0.2% higher at 4,455, logging weekly gains of 0.6% and 0.5%, respectively, FactSet data show. The Nasdaq Composite Index finished the day lower, of less than 0.1%, as the benchmark 10-year yield rose to around 1.45%, contributing to a 9 basis point jump for the benchmark debt and marking the largest weekly rate rise since March 19, Dow Jones Market Data show. The yield-sensitive Nasdaq Composite still managed to end the week in positive territory. On the data front, U.S. new-home sales increased 1.5% to an annual rate of 740,000, the government said Friday. In corporate news, Nike Inc. shares fell about 6% after the sportswear maker reported quarterly sales that fell short of Wall Street expectations, and said wages and overhead expenses weighed on revenue. For the week, the energy sector produced the best gain of the S&P 500's 11, rising 4.7%, while financials rose 2.2%. On Wednesday, the Fed's Jerome Powell signaled that the central bank could soon end a key aspect of its market-supportive programs and aim to lift interest rates as early as 2022.
11:10 a.m. Sept. 22, 2021 - By Mark Decambre
Dow, S&P 500 post best daily gain in 2 months even as Fed says tapering of asset purchases coming soonU.S. stock indexes closed higher Wednesday, with the S&P 500 and the Dow industrials notching their best daily gains in about two months, as Federal Reserve Chairman Jerome Powell signaled the central bank may announce a pullback of its bond purchases in November and could start to raise interest rates in 2022, with both moves largely expected by market participants. Subsiding fears around embattled Chinese property development company Evergrande, which rattled investors on Monday, also helped set a more bullish tone on Wall Street. But investors are also watching developments in the U.S. Congress on raising the federal debt ceiling. The Dow Jones Industrial Average rose by about 338 points, or 1%, to reach 34,258, representing the best point and percentage gain for the blue-chip index since July 20; while the S&P 500 index climbed 1% to 4,395, marking the best day since July 23. The Nasdaq Composite Index , meanwhile, also rose 1% to 14,896 for its best day since Aug. 27, FactSet data show. In corporate news, shares of Stitch Fix Inc. rallied nearly 16% on Wednesday after reporting quarterly results.
9:08 a.m. Sept. 22, 2021 - By Mark Decambre
Dow rises over 400 points, adding to rally as Federal Reserve says reducing asset purchases 'may soon be warranted'The Dow industrials and the broader market held onto early sharp gains on Wednesday after the Federal Reserve kept rates unchanged, as expected, and indicated that tapering of asset purchases "may soon be warranted," without providing specific details on timing and pace. The Dow Jones Industrial Average was trading 449 points higher, or 1.3%, at 34,359, the S&P 500 index traded 1.2% up at 4,405, while the Nasdaq Composit Index advanced 1% at 14,895. The Fed decision will be followed by a news conference with Chairman Jerome Powell at 2:30 p.m. Eastern Time. The Fed has been buying $80 billion worth of Treasurys and $40 billion worth of mortgage-backed securities each month since last summer to keep long-term interest rates low and spur demand. Since the summer, the Fed has been talking about slowing down the purchases. The central bank has been guarded, worried there could be a repeat of the "taper tantrum" that roiled global financial markets in 2013. The formal announcement could come at the November 2-3 meeting or December 14-15, economists said.
9:08 a.m. Sept. 22, 2021 - By Myra P. Saefong
Gold settles slightly higher, extends gains after Fed policy statementGold prices settled with a , then moved up further after that they're almost ready to taper their bond-buying and expect to raise interest rates by late 2022. December gold was at $1,785.80 an ounce in electronic trading, following a settlement at $1,778.80, up 60 cents, or 0.03%, for the session.
11:08 a.m. July 28, 2021 - By Mark Decambre
Dow, S&P 500 log back-to-back losses as Fed says economy has 'made progress' from COVID but not enoughThe Nasdaq Composite on Wednededay ended solidly higher but the broader market closed weaker as the Federal Reserve signaled that the countdown has begun on scaling back its massive support for the U.S. economy, but a decision still appeared a ways away. The Dow Jones Industrial Average closed down by about 128 points, or 0.4%, at 34,930, the S&P 500 index was virtually flat, but in negative territory, to end at around 4,400. The benchmarks declined for the second straight session. The Nasdaq , meanwhile, closed up 0.7% at roughly 14,762. The Fed kept interest rates at a range between 0% and 0.25%, as expected, and Powell indicated that the central bank was in no immediate rush to scale back on its monthly purchases of $120 billion in Treasurys and mortgage-backed securities, which the Chairman said would continue until "substantial further progress" was made toward the Fed's goals of low unemployment and inflation reaching 2%. The Fed statement said that the rate-setting Federal Open Market Committe "will continue to assess progress in coming meetings." Meanwhile, the small-capitalization Russell 2000 index finished sharply higher, up around 1.6%, at last check. Separately, the 10-year Treasury note was up 2.4 basis points at 1.259%.
9:04 a.m. June 28, 2021 - By Myra P. Saefong
Gold futures finish higher, extending gains from last weekGold futures , extending their gains from last week. Gold prices were "treading water" and likely to continue to do so ahead of this week's U.S. jobs numbers, said Michael Hewson, chief market analyst at CMC Markets UK. "It seems fairly clear that [interest] rates aren't likely to go higher in response to higher prices, with a renewed focus now on the jobs market, which appears to be lagging behind in terms of getting back to pre-pandemic levels," he said. August gold rose $2.90, or 0.2%, to settle at $1,780.70 an ounce. Prices ended last week higher for the first time in four weeks.
11:38 a.m. June 26, 2021 - By MarketWatch
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9:50 a.m. June 18, 2021 - By Myra P. Saefong
Oil futures end higher, up a 4th straight weekOil futures , with U.S prices posting a gain for a fourth week in a row. Prices shook off much of the losses they saw Thursday on the back of strength in the dollar, which followed the Federal Reserve's suggestion that it may raise interest rates sooner than it previously expected. Traders continued to get a boost from expectations for stronger energy demand and eyed prospects for an Iran nuclear deal that would likely lead to more oil on the global market. Most appeared unconvinced that an agreement can be reached before the inauguration of a new Iran president in August. West Texas Intermediate oil for July delivery rose 60 cents, or 0.8%, to settle at $71.64 a barrel on the New York Mercantile Exchange. Prices based on the front-month contract tacked on 1% for the week.
6:42 a.m. June 18, 2021 - By Mark Decambre
Dow futures sink over 300 points as Fed's Bullard estimates that initial rate increase could happen in late 2022U.S. stock-index futures saw losses deepen Friday morning as St. Louis Federal Reserve President Jim Bullard said, during a CNBC interview, that the central bank could lift benchmark interest rates, which currently stand at a range between 0% and 0.25%, as early as late next year. Futures for the Dow Jones Industrial Average were down more than 300 points, or 1%, at 33,366, those for the S&P 500 index were off 0.8% at 4,180, while Nasdaq-100 futures were trading 0.6% lower at 14,068. The Dow and S&P 500 are headed for weekly declines, while the Nasdaq Composite Index was headed for a weekly gain after the Federal Reserve delivered its most recent policy update on Wednesday. Bullard's comments mark the first from a Fed member since the conclusion of its rate-setting meeting. Bullard is not currently a member of the Federal Open Market Committee, which helps to set rates. Bullard told CNBC that he thinks "it's natural that we've tilted a little more hawkish to contain inflationary pressures." He also said that comments from Fed Chairman Jerome Powell have opened the door to tapering the Fed's $120 billion montly asset-purchases, which include $40 billion of mortgage-backed securities.
6:09 a.m. June 18, 2021 - By Mark Decambre
S&P 500 skids 1% lower Friday, putting stock-market benchmark on brink off first close below 50-day average since MarchThe S&P 500 index on Friday was on the verge of marking its firt close below its short-term moving average since early March, amid a sharp slump in the stock market. The S&P 500 index was trading down 1% at 4,177, with its 50-day moving average standing at 4.181.95, according to FactSet data. A close below that level would mark the first such decline since March 8, according to Dow Jones Market Data. The Dow Jones Industrial Average was off 1.5%, down more than 500 points, while the Nasdaq Composite Index was trading 0.7% lower at 14,066. The decline for the market accelerated after St. Louis Federal Reserve President James Bullard said that he saw benchmark interest rates rising as soon as late 2022, in an interview on CNBC Friday morning. Market participants use moving averages to help gauge the long-term and short-term momentum in an asset.
4:40 a.m. June 17, 2021 - By Mark Decambre
U.S. stock market attempts to claw back gains Thursday as investors weigh hawkish Fed and punchy U.S. dollarU.S. stock benchmarks struggled for altitude Thursday morning, a day after the Federal Reserve signaled its intention to raise interest rates sooner than previously forecast and upped its forecast for inflation and economic growth. The Dow Jones Industrial Average , which closed below its 50-day moving average on wednesday for the first time since early March, was inching higher at 34,059, up 25 points, or less than 0.1%; the S&P 500 index was rising to 4,229, up 4 points, buoyed by gains in financials and consumer staples. The technology-laden Nasdaq Composite Index was trading at 14,059, up 0.1%, as rates for benchmark government debt remained somewhat buoyant, weighing on yield-sensitive sectors. On Wednesday, the Fed's median projection showed that policy makers see a lift to benchmark rates, currently at a range between 0% and 0.25%, to 0.6% by the end of 2023, sooner than they anticipated in March. Thursday's moves come as the U.S. dollar has made bullish post-Fed moves. The ICE U.S. Dollar Index , a gauge of the dollar against a half-dozen currencies, was up 0.6% at 91.69.
9:47 a.m. June 16, 2021 - By Myra P. Saefong
U.S. oil futures eke out a slight gain U.S. oil futures barely notching their highest finish in over two and half years. Prices got a boost after the Energy Information Administration reported a larger-than-expected weekly decline in domestic crude inventories, but the U.S. dollar strengthened after the Federal Reserve said it may increase interest rates earlier than it previously expected, pressuring prices for dollar-denominated oil. West Texas Intermediate oil for July delivery rose 3 cents, or 0.04%, to settle at $72.15 a barrel on the New York Mercantile Exchange, the highest front-month contract finish since October 2018, FactSet data show. It had traded as high as $72.99 during the trading session.
8:46 a.m. June 8, 2021 - By Myra P. Saefong
Gold futures mark first loss in 3 sessionsGold futures on Tuesday marked their first loss in three sessions, with prices only briefly touching a high above the key $1,900 mark. The market is paying close attention to Treasury Secretary Janet Yellen's recent comments on interest rates and how inflation could be good for economy, said Jeff Wright, chief investment officer at Wolfpack Capital. In an interview with Bloomberg News on Sunday, Yellen said higher interest rates would be "a plus" for policy makers. "A meaningful rise in interest rates would dramatically curtail economic growth," so that would be a "difficult needle to thread," said Wright. He said he'll be keeping an eye out for further comments from Yellen and await the reading on the U.S. consumer price index due Thursday. In the meantime, gold is back to being rangebound between $1,800 and $1,900 "until it breaks well past $1,900 on the upside," he said. August gold fell $4.40, or 0.2%, to settle at $1,894.40 an ounce after trading as high as $1,906.90.
8:57 a.m. May 24, 2021 - By Myra P. Saefong
Gold prices climb to settle at a level not seen since January Gold futures to settle at their highest since early January. Prices for the precious metal have climbed as "the combination of rising U.S. breakeven inflation rates and falling U.S. real yields have worked to reduce the opportunity cost of holding non-interest bearing physical asset such as gold," analysts at ICICI Bank wrote in a research report. June gold rose $7.80, or 0.4%, to settle at $1,884.50 an ounce. That was the highest most-active contract settlement since Jan. 7, according to FactSet data.
8:39 a.m. May 20, 2021 - By Myra P. Saefong
Gold prices shake off early losses to tally a sixth straight gainGold futures gave up early losses Thursday to , up a sixth straight session. "Vagueness on tapering" in the , released Wednesday, and the Fed taking a "'hawkish' stance on interest rates, along with less concern for inflation than the Fed would historically take" contributed to gold's rise Thursday, said Jeff Wright, chief investment officer at Wolfpack Capital. Gold may still move higher, but "will face resistance and profit taking above $1,900," said Wright. June gold added 40 cents, or 0.02%, to settle at $1,881.90 an ounce, with prices eking out a sixth straight session rise, the longest streak of consecutive gains so far this year, according to FactSet data.
8:53 a.m. May 7, 2021 - By Myra P. Saefong
Gold futures mark highest finish in almost 3 monthsGold futures to mark their highest finish in almost three months. Following data showing weaker-than-expected U.S. nonfarm jobs growth in April, Chintan Karnani, director of research at Insignia Consultants, said he does not expect U.S. interest rates to be raised at the Federal Reserve's June meeting, and the U.S. dollar index is "on the defensive." The ICE U.S. Dollar Index fell 0.7% Friday, on track for a weekly loss of over 1%, providing support for dollar-denominated gold. The June gold contract rose $15.60, or 0.9%, to settle at $1,831.30 an ounce. That was the highest most-active contract settlement since Feb. 10, FactSet data show. For the week, prices based on the most-active contract climbed about 3.6%.
8:45 a.m. May 5, 2021 - By Myra P. Saefong
Gold prices end higher as Yellen clarifies recent comments on interest ratesGold futures to recoup only part of what they lost a day earlier as U.S. Treasury Secretary Janet Yellen and said she was neither predicting nor recommending that the Federal Reserve raise interest rates to keep the economy from overheating. The $1,800 mark for gold is a "very strong resistance level" and further comments from Yellen "clarifying that she was not predicting anything in particular did nothing to help gold break through," said David Russell, director of marketing at GoldCore. June gold rose $8.30, or 0.5%, to settle at $1,784.30 an ounce.
8:48 a.m. April 20, 2021 - By Myra P. Saefong
Gold futures settle higher, buoyed by weakness in Treasury yieldsGold futures , buoyed by weakness in Treasury yields. Gold prices have climbed since marking a double-bottom on March 30th, said Adam Koos, president of Libertas Wealth Management Group, referring to a chart pattern that signals a potential bullish reversal in prices. He attributed gold's rise since late March to a decline in the U.S. dollar over the same period, as well as a retreat in interest rates that had become "extremely overbought" and a "long-in-the-tooth" U.S. stock market, which is "ripe for a pullback." June gold rose $7.80, or 0.4%, to settle at $1,778.40 an ounce. Prices, however, failed to recoup all of the 0.5% loss from the previous session.
9:50 a.m. April 17, 2021 - By MarketWatch
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12:01 p.m. April 10, 2021 - By MarketWatch
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5:33 a.m. March 12, 2021 - By Tomi Kilgore
M.D.C. Holdings stock sinks after BofA turns bearish, citing valuation and affordability concernsShares of M.D.C. Holdings Inc. sank 5.9% in morning trading Friday, after BofA Securities analyst John Lovallo turned bearish on the homebuilder, citing concerns over valuation and near-term housing affordability. He cut his rating to underperform from neutral, while keeping his price target at $63. "We view M.D.C. as a well-run, well-positioned homebuilder but believe the year-to-date run in the stock fully encompasses these positive, particularly considering the affordability challenges we expect in the months ahead," Lovallo wrote in a note to clients. The stock has rallied 26.4% year to date, and closed at a 16-year high on Wednesday. Lovallo said affordability could be hurt by rising raw materials prices and interest rates, and as coming stimulus measures support further gains in home prices. M.D.C.'s stock selloff comes as the iShares U.S. Home Construction ETF shed 2.3%, while the S&P 500 fell 0.5%. Among M.D.C.'s more active peers, shares of D.R. Horton Inc. slid 4.4%, Lennar Corp. lost 4.0%, PulteGroup Inc. declined 3.2% and Toll Brothers Inc. gave up 3.7%.
7:09 a.m. March 8, 2021 - By Michael Ashbaugh
Market cross currents persist: Nasdaq hesitates at the breakdown point Focus: Crude oil rises amid reflation trade/geopolitics, USO, CAT, STT, AEO, ICHRU.S. stocks are mixed early Monday, vacillating amid a familiar March divergence. Against this backdrop, the Dow Jones Industrial Average has rallied within striking distance of record highs, while the recently lagging Nasdaq Composite has balked early Monday at its breakdown point.
7:50 a.m. March 5, 2021 - By Michael Ashbaugh
Charting a technical question mark, S&P 500 violates the 50-day average Focus: 10-year Treasury note yield continues to take flight, Sector leaders remain in divergence mode, TNX, XLF, IYT, QQQU.S. stocks are mixed early Friday, vacillating after a stronger-than-expected monthly jobs report. Against this backdrop, the S&P 500 has ventured under its 50-day moving average for the first time since November, though amid a downturn that gets low marks for bearish style. The prevailing bigger-picture technicals are not one-size-fits-all.
9:27 a.m. March 4, 2021 - By Mark DeCambre
Buzzy stock-market ETFs backed by Portnoy and Wood get crushed Thursday afternoon as the Nasdaq nears correction Cathie Wood's flagship ARK Invest ETF and a VanEck Vectors Social Sentiment backed by Wall Street bro Dave Portnoy are down by at least 4%. The VanEck Vectors Social Sentiment ETF was down 4.3% in Thursday afternoon trade, in its debut. Meanwhile, Wood's ARK Innovation deepened its slide into correction on Thursday, off 6.6%. Both ETFs focus on drawing interest from many of the growthy tech stocks which are in the market's crosshairs as bond yields rise, including electric-vehicle maker Tesla Inc. . On Thursday, bonds took a leg higher after Federal Reserve Chairman Jerome Powell said he was watching the rise in rates but offered no concrete steps the central bank was taking to tamp down rate moves. The 10-year Treasury yield jumped by 7 basis points in afternoon action, hitting around 1.54% and accelerating a sell-off in stocks that are viewed as pricey and that don't offer a coupon. The tech-heavy Nasdaq Composite Index was down nearly 10% from its Feb. 12 peak, meeting the commonly used definition for a correction. The Dow Jones Industrial Average was down more than 400 points, or 1.3%, and nursing a 0.8% year-to-date gain. The S&P 500 index was down 1.6% and holding on to a 2021 gain of less than 0.1%. The Nasdaq Composite was negative for the year, down 1.4%.
7:34 a.m. March 4, 2021 - By Michael Ashbaugh
Charting a volatile March start: S&P 500, Nasdaq reach key technical tests Focus: Charting a still bullish-leaning sector backdrop, IYT, XLF, QQQ, XLV, XLU, XLP, XLE, XLI, AMZNU.S. stocks are mixed early Thursday — though well off the session’s worst levels — vacillating amid a volatile March start. Against this backdrop, the S&P 500 is back for its latest crack at the 50-day moving average, currently 3,820, while the Nasdaq Composite has whipsawed Thursday at last-ditch support matching the 2020 peak (12,973).
11:05 a.m. March 3, 2021 - By Mark DeCambre
Resurgence in Treasury yields hammers tech stocks, drives Nasdaq below 13,000 to mark worst 2-day skid in 6 monthsU.S. stock benchmarks on Wednesday closed lower and technology and tech-related shares got whacked as a continued rise in bond yields forced a rotational shift out of highflying tech and into areas of the market that might benefit from a regime of rising interest rates, like banks and energy . A report from the Federal Reserve's Beige Book, a survey of business conditions in the central bank's 12 regional districts, also showed only a modest uptick in economic activity to start the year, despite headway on COVID the vaccination front. The Dow Jones Industrial Average finished down by about 0.4% at 31,270, while the S&P 500 index closed off 1.3% at 3,820. The tech-laden Nasdaq Composite Index, took the brunt of the selling, off 2.7%, at 12,997 to mark the index's worst two-day skid since September, according to Dow Jones Market Data. Meanwhile, the initial public offering of health-care data company Oscar Health Inc. , finished down nearly 11% in its public debut. And the 10-year Treasury note was around 1.47%.
2:18 a.m. Feb. 28, 2021 - By MarketWatch
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8:44 a.m. Feb. 26, 2021 - By Myra P. Saefong
Gold futures down a fourth session, at lowest finish since JuneGold futures to finish the session at their lowest since June, with the recent rise in U.S. Treasury yields putting pressure on prices for the metal. "Gold always underperforms when the dollar is going up or real interest rates are rising," said Collin Plume, founder and chief executive officer of Noble Gold. The 10-year Treasury note yield eased back Friday, but had climbed to a , while the dollar has gained for the week, dulling investment demand for gold. April gold fell $46.60, or 2.6%, to settle at $1,728.80 an ounce, with prices for the most-active contract down roughly 6.6% for the month of February, according to Dow Jones Market Data. The settlement was the lowest since June 2020.
11:05 a.m. Feb. 25, 2021 - By Mark DeCambre
Dow skids 560 points to mark worst day in a month as surge in interest rates unsettles Wall Street bulls U.S. stock benchmarks on Thursday booked their worst selloff in weeks as a steady rise in government debt upended the market's bullish posture. The Dow Jones Industrial Average fell by about 560 points, or 1.8%, to 31,402, to mark its worst day since Jan. 29. the S&P 500 index closed 2.4% lower at 3,831, while the Nasdaq Composite Index , the most sensitive to rising yields, ended the session down 3.5% to 13,119 and finished below its 50-day moving average at 13,284.23 for the first time since Oct. 28, according to Dow Jones Market Data. The move comes as the 10-year Treasury note rose to above 1.5%, reflecting expectations of higher inflation and higher borrowing costs for companies and individuals.
9:01 a.m. Feb. 22, 2021 - By Myra P. Saefong
Gold futures rally to highest finish in over a weekGold futures as U.S. Treasury bond yields eased back from the day's highs, prompting prices for the precious metal to settle at their highest since Feb. 12. Gold rallied as the rise in bond yields took a pause, giving the precious metal a "chance to join in the broader bull market in commodities," said Adrian Ash, director of research at BullionVault. "Rising interest rates are like kryptonite to gold, because it is so sensitive to the outlook for money's real value." The was at 1.35% after climbing to a high near 1.40%, the highest in a year. April gold rose $31, or 1.7%, to settle at $1,808.40 an ounce.
2:18 a.m. Feb. 20, 2021 - By MarketWatch
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7:26 a.m. Feb. 17, 2021 - By Michael Ashbaugh
Charting market cross currents, S&P 500 pulls in to the range Cross currents across asset classes surface amid surging Treasury yields, TNX, USO, GLD, FXY, UUP, XLF, KREU.S. stocks are lower early Wednesday, pressured as the latest economic data fuel the debate regarding potential pending inflation. Against this backdrop, each big three U.S. benchmark has reversed from Tuesday’s record high, pulling in to its former range amid largely garden-variety selling pressure.
2:35 a.m. Feb. 13, 2021 - By MarketWatch
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9:15 a.m. Feb. 12, 2021 - By Mark Hulbert
The place of junk bonds in a retirement portfolio A historical review of high-yield bonds’ costs and benefitsA historical review of high-yield bonds’ costs and benefits
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