The S&P 500 has touched new levels on more than 20% of trading days so far this year, noted financial firm Oppenheimer.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeTreasury yields tend to move in tandem with interest rates. Both, broadly speaking, indicate the borrowing costs of money. When the U.S. Federal Reserve cut interest rates last week, it's not unreasonable to expect Treasury yields to dip.
If the narrative propelling markets forward – the promise of artificial intelligence and a soft landing for the U.S. economy amid rate cuts – continues uninterrupted, the S&P is on track to finish 2024 more than 20% higher.Initial jobless claims for the week ending Sept. 21 dropped by a more-than-anticipated 4,000 from the previous week, suggesting layoffs aren't happening in the job market.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNBC Daily Open: One day makes all the difference“Twenty-four little hours / Brought the sun and the flowers / Where there used to be rain,” sings Dinah Washington. She could've been singing about markets.
Read more »
CNBC Daily Open: Did Apple's shiny new things improve market sentiment?Maybe all it takes are shiny new things to lift our mood and take our minds off recession fears.
Read more »
CNBC Daily Open: Recession concerns still lingerLast week’s burst of euphoria was mostly driven by anticipation and celebration of the Fed’s rate cut. Markets this week will look at the hard data coming out.
Read more »
CNBC Daily Open: Lower rates might hurt banksEveryone loves lower interest rates. But declining net interest income means banks may not love them unconditionally.
Read more »
CNBC Daily Open: Vaguely reassuring FedspeakWe were treated to abundant Fedspeak on Monday. It reinforced narrative the central bank has been on top of its game to ensure a soft landing.
Read more »
CNBC Daily Open: Markets need time to digest the 50-point cutFed Chair Jerome Powell spent a big portion of the post-meeting press conference massaging sentiment.
Read more »