|Day's Range||0.7520 - 0.7590|
|52 Week Range||0.3980 - 2.1740|
Michael Antonelli, Baird PWM Market Strategist, joined Yahoo Finance's The Final Round to discuss why he's paying attention to TSA checkpoint data, credit card spending data, and OpenTable data.
John Stoltzfus, Chief Investment Strategist and Managing Director at Oppenheimer Asset Management, joined Yahoo Finance's The Final Round to discuss his outlook for the market and reopening optimism.
Stock futures edged lower Thursday morning, pausing after a rally sent US equities to their highest level in three months.
U.S. Treasury yields struggled for direction on Thursday, taking a breather from their multi-session climb after the European Central Bank expanded its flagship bond-buying program.
The rapid rally in world markets finally paused for breath on Thursday, as traders waited to hear how much more stimulus the European Central Bank plans to shovel out to address the coronavirus slump. The ECB is expected to pump in another 250-500 billion euros for the cause, but after weeks of sharp gains for stocks, oil and confidence-sensitive currencies, investors were taking the chance to lock in some profit. "As always, it's become an asymmetric risk with the ECB," said Gilles Moëc, chief economist of AXA Group, who was waiting to see how much new bond buying stimulus the bank signals and the length of time that it plans to do it.
Treasury yields climb on Wednesday in line with the buoyancy in global equity markets as investors eye the easing of lockdown measures, while largely disregarding the civil unrest roiling the country.
President Donald Trump is "healthy," and the administration plans to release the full results of his annual physical "shortly," White House spokeswoman Kayleigh McEnany said Wednesday. McEnany said the physical was conducted "fairly recently" but didn't know its exact date. Eyebrows were raised when Trump appeared to have been taken with some urgency to Walter Reed National Military Medical Center. The White House later said the previously unannounced trip was merely to complete 'Phase 1' of the annual checkup.
The Federal Reserve on Wednesday said it was expanding its municipal liquidity facility again so that more cities and counties can participate. Under the revised program, all U.S. states will be able to have at least two cities or counties eligible for the program regardless of population. The program is aimed at buying bonds directly from states and cities. It was expanded in April to allow in smaller locales.
Stocks rose, tracking advances in global equities as investors eyed stabilizing economic data alongside ongoing protests across the country, which spurred some concerns of a ramp-up in coronavirus cases following a deescalation in the outbreak.
U.S. Treasury yields inch higher Tuesday as global equities stayed buoyant amid hopes that the reopenings of economies across the world would revive international growth from its doldrums.
Deutsche Bank analysts say any sale of U.S. Treasurys by Beijing is likely unrelated to efforts by China to retaliate against the U.S., as tensions between the two superpowers flare.
Factory orders fell 13% in April, a slightly larger drop than the 11% decline in the prior month, the Commerce Department said Wednesday. Economists were expecting a 12% fall. Durable goods orders fell 17.7%, a bit worse than last week's initial reading of a 17.2% decline. Orders for nondurable goods were down 9% in the month. Orders for nondefense capital goods, excluding aircraft, fell a downwardly revised 6.1% in April compared with the prior estimate of a 5.8% drop.
Treasury yields inched higher Monday after data helps to strengthen hopes that the U.S. was on the path to bouncing back from the coronavirus-driven recession.
Stocks turned positive Monday morning, steadying against a backdrop of protracted protests in some of the nation’s largest cities, many of which had already been struggling to reopen amid the coronavirus outbreak.
Exchange-traded funds that track financial sector stocks outperformed Monday as interest rates shifted to the benefit of banks and other lenders. The Financial Select Sector SPDR Fund was 1.3% higher midday, and the SPDR S&P Regional Banking ETF was 1.7% higher. The Invesco KBW Bank ETF popped 2.3%. Although interest rates remain low across the board, the difference between 5-year bonds and those with 30-year maturities has recently widened to the biggest differential since May 2017, according to a MarketWatch analysis, a condition that's more favorable for banks that make loans and pay interest on deposits. That so-called steepening of the yield curve comes as a report on manufacturing suggested the U.S. economy may have begun to recover from a steep decline during the spring due to coronavirus lockdowns.
The dollar had a difficult week, falling against all the major currencies but the Japanese yen and appeared to break out of its recent trading ranges against the euro, Canadian and Australian dollars.
Stocks closed at their highest levels since at least March, ending Friday’s volatile session mostly higher after President Donald Trump announced retaliatory measures against China that were less negative for markets as some had feared. Myles Udland, Sean Smith, Rick Newman, and Akiko Fujita discuss on The Final Round.
Stocks fell on Friday, extending losses from Thursday’s session as investors eyed renewed tensions between the U.S. and China.
U.S. Treasury yields fall Friday after President Donald Trump railed against China in a news conference, but also appeared to take a less severe approach against Beijing than worried over the issue of Hong Kong.
Federal Reserve Chairman Jerome Powell says he is "comfortable" with the central bank’s unprecedented reaction to the economic shock from the COVID-19 crisis.
Researchers suggest foreign investors and central banks selling their stockpile of U.S. bonds to source greenbacks, among other reasons, may have made it difficult for Treasurys to change hands seamlessly in March.
Consumer sentiment rose to a final May reading of 72.3 from a final April level of 71.8, according to reports on the University of Michigan gauge released Friday. A preliminary April reading estimated sentiment at 73.7, and economists polled by MarketWatch had expected no change in the final reading. Economists follow readings on confidence to look for clues about consumer spending, the backbone of the economy. For context, the consumer-sentiment gauge stood at 101 in February just as the coronavirus was starting to spread.
A measure of business conditions in the Chicago region slumped to 32.3 in Ma from 35.4 in April, according to a report on CNBC. Any reading below 50 indicates worsening conditions. The Chicago PMI is the last of the regional manufacturing indices before the national ISM data is released on Monday.
Consumer spending in the U.S. fell 13.6% in April, the government reported Friday. Economists polled by MarketWatch had expected a 13% decrease, compared with an original estimate of 7.5% decline in March. On Friday the Commerce Department revised consumer spending in March to an decrease of 6.9%. Meanwhile, personal income rose 10.5% in April, boosted by government payments. Economists had expected an decrease of 2.1%, compared with an originally reported decline of 2% in March. On Friday, the government revised March's decline for personal income to 2.2%. Inflation, as measured by an index for personal consumption expenditures, fell 0.5% last month. The core inflation index, which excludes food and energy, was down 0.4%. Over the past 12 months, the broad PCE index rose 0.5%, down from 1.3% in March, while the core gauge grew 1%, down from 1.7% in the prior month.