BOSTON, Jan 8 — US stocks and Treasury yields were mixed yesterday as investors digested payroll data and its potential impact on Federal Reserve policy in the final session of an already roller-coaster first trading week of the year.
The Dow Jones Industrial Average fell 4.81 points, or 0.01 per cent, to 36,231.66, the S&P 500 lost 19.03 points, or 0.41 per cent, to 4,677.02 and the Nasdaq Composite dropped 144.96 points, or 0.96 per cent, to 14,935.90. Wall Street steadied by Thursday evening, though analysts at ING bank said the minutes were still reverberating across markets, driving bond yields higher, hitting growth stocks and supporting the dollar.
The yield on benchmark 10-year Treasury notes was last at 1.7673 per cent, up from 1.7461 per cent before the payrolls data. The dollar index fell 0.53 per cent at 95.750, and was poised for its biggest drop since November 26, when concerns about the Omicron Covid-19 variant began to rattle markets. Even with Friday’s weakness, the dollar was still on track for a slight weekly gain, its first in three weeks.
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