US stocks rise, led by tech, with positive economic data, global support, and mixed oil prices.

From Yahoo Finance: 2024-09-26 10:37:37

Stocks in the US climbed higher, led by technology companies, following a positive forecast from Micron Technology Inc. Latest data showed the strength of the US economy, bolstered by China’s fiscal stimulus pledge. The S&P 500 and Nasdaq 100 saw gains, but traders await insights on the economy and Federal Reserve’s next moves. US Treasury yield rose to around 3.81%. Revised data revealed a healthier-than-expected economy emerging from the pandemic, with low jobless claims reflecting labor market resilience. Global policymakers’ reiterated support has markets optimistic for continued growth despite some doubts about China’s long-term impact and the Swiss National Bank’s interest rate cut. Oil prices slid as Saudi Arabia plans production increases and Libya appoints a new central bank governor.

The Fade

US:
– S&P 500 up 0.4%
– Nasdaq 100 up 0.6%
– Dow Jones Industrial Average up 0.5%

Europe:
– Stoxx Europe 600 up 1.3%

World:
– MSCI World Index up 0.6%

Currency:
– Bloomberg Dollar Spot Index down 0.3%
– Euro up 0.2%
– British pound up 0.3%
– Japanese yen down 0.2%

Crypto:
– Bitcoin up 1.9% to $64,719.07
– Ether up 1.9% to $2,628.27

Bonds:
– US 10-year Treasury yield up three basis points to 3.81%
– Germany’s 10-year yield stable at 2.18%
– UK 10-year yield up two basis points to 4.01%

Commodities:
– WTI crude down 3% to $67.60 a barrel
– Spot gold up 0.4% to $2,667.17 an ounce



Read more at Yahoo Finance: US Stocks Trim Gains as Traders Digest Data: Markets Wrap