U.S. stock-index futures pointed to a lower start for Wall Street Wednesday, following a series of worrying data on global economic growth, and after the yield on the 10-year U.S. Treasury note fell below that of the 2-year note, marking an inversion of the main measure of the yield curve and flashing a recession warning signal.
On Tuesday, the Dow Jones Industrial Average rose DJIA, -1.46% 372.54 points, or 1.4%, to end at 26,279.91, for the biggest one-day gain in two months. The S&P 500 index SPX, -1.39% added 42.57 points, or 1.5%, to close at 2,926.32. The Nasdaq Composite Index COMP, -1.60% rose 152.95 points, or 2%, to 8,016.36.
The action in the bond market followed data showing that Chinese industrial production growth in the world’s second-largest economy slowed to 4.8% year-over-year, its lowest level since 2002, while retail sales growth came in at 7.6%, down from 9.8% the month prior and well below the 8.6% consensus, according to FactSet.
How are other markets trading? The yield 30-year U.S. Treasury bond TMUBMUSD30Y, -5.10% was also under pressure, falling 11 basis points to 2.022%, an all-time low.In commodities markets, the price of oil CLU19, -3.15% was down 2.6%, while the price of GCQ19, +0.77% edged 0.1% higher. The U.S. dollar, meanwhile, fell 0.1% against a basket of its rivals.
If you show the China market is breaking our markets then you have showed them they can have whatever deal want.
Because WeWork can’t save us?!
MAGA y'all!
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