U. S. stocks rose on Monday as investors eagerly awaited information about new jobs at the end of the shortened holiday week.
Major indexes rose, adding to the already strong gains of the first part of 2024, while bond yields also rose.
Stocks ended the first half higher, with the S
The yield on 10-year Treasuries increased core issuance to 4. 441%.
Traders are waiting for Friday’s June jobs report, which is expected to provide insight into the strength of the economy and the outlook for the Federal Reserve’s rate cuts this year. Economists expect the economy to have added 190,000 jobs over the past month, an increase. of 272,000 jobs created in May.
“According to the CME FedWatch tool, there is a 64. 3% chance that the Federal Reserve will cut rates for the first time in more than a year at the Sept. 18 meeting,” Art Hogan, lead market strategist at B. Riley Wealth. note Monday, said.
“We agree with this assumption, as the disinflationary trend accelerated enough in the second quarter to give the Federal Reserve the green light. “
Chewy’s inventory jumped when retail icon Keith Gill revealed a $245 million stake in the puppy care company, founded through the CEO of Gill’s other known portfolio position, GameStop.
Here’s where the US indices were a little while after the opening bell at 9:30 a. m. m. of Monday:
Nasdaq Composite: 17,760. 18, up 0. 16%
Here’s what’s out there today:
In commodities, bonds, and cryptocurrencies:
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