Market breadth expands with new highs on NYSE, potential interest rate cuts, stronger yen

From Yahoo Finance: 2024-07-12 17:38:52

300 stocks on the New York Stock Exchange hit new highs, signaling market breadth expansion, with the US Benchmark Feds Fund rate hinting at upcoming interest rate cuts. Yahoo Finance reporter Jared Blikre analyzes top market trends on July 12, including the Japanese yen’s strength against the US dollar in foreign exchange markets. Wall Street anticipates a soft landing scenario with more rate cuts priced in after the latest CPI and PPI figures, suggesting caution amid historical trends of rapid downturns. The Bank of Japan intervenes in currency markets to prevent a weaker yen, impacting global investors with potential implications for market stability.



Read more at Yahoo Finance: Market breadth expands, soft landing, the yen: Top Takeaways