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To get the latest market news check out finance.yahoo.com Tech led a slide in US stocks on Monday, while the dollar and bond yields climbed amid fading hopes for interest rate cuts ahead of this week's key consumer inflation report. The S&P 500 (^GSPC) sank 0.4%, while the Nasdaq Composite (^IXIC) tumbled about 1%.
S&P 500 slides 0.6% as Palantir drops 4% and Moderna tumbles 23%. Rising Treasury yields and upcoming CPI data keep traders on edge.
To get the latest market news check out finance.yahoo.com US stocks plunged on Friday as investors digested a final 2024 jobs report that blew past expectations on hiring, raising more uncertainty about the path of interest rates this year. The Dow Jones Industrial Average (^DJI) sank about 1.4%, or over 500 points, while the S&P 500 (^GSPC) fell 1.4%.
Lori Calvasina, RBC Capital Markets head of U.S. equity strategy, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's rate path outlook, and more.
The major US indices that I follow here at FX Empire are all drifting lower in the premarket trading action. The markets are focusing on interest rates at the moment, and the fact that the Federal Reserve will not be able to cut as much as once thought.
In 2022, the S&P 500 dropped 19.4%, which was its worst performance since 2008 at the depths of the Great Recession period. It closed 2022 at 3,839.50, and several things on the horizon could knock it down again this year.
A look at the day ahead in U.S. and global markets from Mike Dolan
The 10-year Treasury yield stays above 4%, signaling a tough year for stocks as strong jobs data dampen hopes for Fed rate cuts in 2025.
The US indices continue to see a lot of noisy trading, as the jobs number has caused even more downward pressure, but at the same time, we are still in a massive uptrend overall. At this point, there are probably value hunters out there looking to get involved.
Strong jobs data pushes S&P 500 lower, with Treasury yields spiking and rate-cut hopes fading. Analysts focus on CPI data as markets brace for volatility.