Wall Street hit by rising bond yields, sinking health stocks
- Author: Kelly Blake Feb 01, 2018,
Feb 01, 2018, 0:55
The technology sector's 0.50 percent drop weighed the most on the markets, but the biggest decliners were the defensive sectors - utilities, real estate and telecoms, all down more than 0.8 percent as US 10-year treasury yields hit their highest since 2014. "Given the mountain of key items ahead, investors may have found the current period opportune for profit taking, though focused also on what these incoming leads may mean for markets".
Shares of healthcare-related companies dropped after Amazon.com, Berkshire Hathaway and JPMorgan said they plan to form a venture aimed at lowering healthcare costs for their U. Caterpillar's 2.3 percent drop weighed the most on the index.
Bond yields have been rising steadily over the past few months, making bonds more appealing to investors seeking income.
BJP demands withdrawal of FIR against army in Jammu and Kashmir
Within in no time their numbers swelled to 200-250. "The mob tried to lynch the individual and snatch his weapon". A Major, who led the Army personnel at the time of the incident, was also mentioned in the FIR.
Yields, which rise as bond prices fall, have ticked higher in recent sessions, as investors have bet on an uptick in growth and inflation following the passage of USA corporate tax cuts.
Eversource Energy fell $1.63, or 2.5%, to $62.44, while CenterPoint Energy lost 73 cents, or 2.6%, to 27.73.
The U.S. stocks finished relatively higher and sharply so on Friday. But some investors speculated that the growing strength in the US economy and labor market could prompt the central bank to perhaps forecast an extra rate increase this year.
Late Tuesday, President Trump will deliver his first State of the Union address.
Anthony cracks 25000 points as Thunder beat Pistons
Thomas is averaging 15.4 points and shooting a career-low 39 percent from the field. "He's certainly a huge loss". It's a claim that certainly has some merit to it, as his defence has taken a considerable jump this season.
The Fed has signaled it expects to raise its key short-term interest rate three times this year. Brent crude, used to price global oils, dropped 44 cents, or 0.6 percent, to close at $69.02 a barrel in London.
The Dow rose 238 points, or 0.9 per cent, to 26,318. The investors took a keen approach to the U.S dollar and paid close attention as it rose against other currencies. The euro was unchanged at $1.2403.
Major indexes in Europe declined amid investor worries that new data showing the eurozone grew in 2017 at its fastest pace in a decade could prompt the European Central Bank to wind down its monetary stimulus program earlier than expected. Japan's Nikkei 225 Index plunged by 1.4%, while Hong Kong's Hang Seng Index slumped by 1.1%.
Sochi Congress Agrees Constitutional Committee
Participants of a Russia-hosted conference for peace in Syria have agreed to set up a commission to rewrite the war-torn country's constitution.