Daily Updates

US stocks retreated, while oil prices bounced and government bond yields surged, as tensions in the Middle East re-escalated overnight.

Wall Street started the trading week on a positive note, catching up to Friday’s global stock rally, with the strongest gains in communication and information technology.

Global financial markets ended the trading week on a positive note, as concerns over the sustainability of artificial intelligence boom ebbed, at least for now. US investors were away on Friday for the 250th anniversary of the Declaration of Independence, but futures point to a positive start to the trading week on Wall Street.

The S&P 500 closed flat yesterday, while US Treasury yields declined at the front end of the yield curve, as a smaller-than-expected increase in US non-farm payrolls led to some scaling back of fed funds rate hike expectations.

Wall Street saw fresh declines, led by tech stocks, last night, while government bond yields picked up and the US dollar appreciated, despite US economic data surprising to the downside. The declines on Wall Street and a slight increase in US Treasury yields were triggered among others by comments by Fed Chair Kevin, who confirmed his preference for a smaller Fed balance sheet.

Wall Street finished what was a very good quarter with even more gains, supported by further encouraging signals about the Middle East conflict.