Commodity/Financial Market News
European stocks rally at the open and bund yield turns positive on report of joint European Union spending
European stocks enjoyed an unusually strong open on Tuesday after a weak Wall Street finish, after a report the European Union will consider jointly issuing bonds to finance energy and defense spending. The Stoxx Europe 600 SXXP, +0.81% gained over 1% in early action, as the French CAC 40 PX1, +1.75% gained 2.5%, the German …
Bitcoin Tumbles Below $40,000 After China Issues Crypto Warning
Text size A physical imitation of the Bitcoin cryptocurrency. AFP via Getty Images The price of Bitcoin dropped below $40,000 for the first time in months and other cryptocurrencies also dropped after the People’s Bank of China apparently warned against using digital coins as payment. Bitcoin dropped nearly 7% to $40,275 early Wednesday morning, bouncing off …
Treasury Yields Extend Surge – WSJ
Selling in U.S. government bonds accelerated on Thursday, sending yields soaring again as uncertainty over the pace of economic expansion continued to unsettle financial markets. The yield on the benchmark 10-year Treasury note, which rises when bond prices fall, jumped above 1.7% for the first time since the pandemic in early trading Thursday. Declines spread …
Charting a bullish technical tilt, S&P 500 extends break atop 4,000 mark
Technically speaking, the major U.S. benchmarks have taken flight to start April, rising amid statistically unusual bullish momentum. In the process, the S&P 500 and Dow Jones Industrial Average have knifed to record highs, while the Nasdaq Composite has staged a potentially consequential trendline breakout. Before detailing the U.S. markets’ wider view, the S&P 500’s …