Stocks on Wall Street are experiencing a slight increase in midday trading on Tuesday, as there is growing optimism that the Federal Reserve has finished raising interest rates for the time being. However, investors remain cautious due to the escalating conflict in the Middle East.
The Dow Jones Industrial Average (^DJI) has risen by approximately 0.8%, while the S&P 500 (^GSPC) has gained over 1.0%. The tech-heavy Nasdaq Composite (^IXIC) has also increased by around 1.2%, following Monday’s reversal of losses.
While stocks have been climbing, treasury yields have continued to decline, with the yield on the 10-year (^TNX) falling by 16 basis points to trade near 4.63%. This decline is part of a broader sell-off in bonds.
These gains have come after two Fed officials made dovish comments, suggesting that the recent surge in bond yields could lead to the tightening of credit conditions that the central bank is seeking. Some analysts believe that this could provide policymakers with a reason to halt further rate hikes in this cycle.
Read more: What the Fed rate-hike pause means for bank…
2023-10-10 11:36:13
Original from finance.yahoo.com
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