Stocks rise as bond yields fall on Treasury Secretary pick, optimism boosts market.
From Nasdaq: 2024-11-25 19:11:44
- S&P 500, Dow Jones, and Nasdaq closed higher on Monday, with all-time highs reached. Optimism over Trump’s Treasury Secretary pick boosted stocks. Energy and technology sectors saw some weakness, affecting overall gains.
- US economic news on Monday was weaker than expected, with the Chicago Fed national activity index and Dallas Fed manufacturing outlook survey disappointing. This week’s economic calendar is front-loaded due to Thanksgiving, with key data releases expected.
- Interest rates saw T-notes rally to a 2-week high as the 10-year yield fell. European bond yields also moved lower. ECB member hints at another rate cut in December. Swaps indicate a high chance of a rate cut by the ECB.
- Homebuilding stocks surged on lower T-note yields, while tech and defense stocks faced pressure. Energy stocks retreated due to a significant drop in WTI crude prices. Various companies reported notable stock movements.
- Earnings reports scheduled for 11/26 include companies like Analog Devices, Autodesk, Best Buy, and more. Author Rich Asplund did not hold positions in any mentioned securities, and all information provided is for informational purposes only.
Read more at Nasdaq: Stocks Settle Higher as Bond Yields Fall on Trump’s Treasury Secretary Pick