Bond Market Flip Lifts Stocks as Fed Signals Patience on Rates
IXIC sits 30% above its 52-week low of $20,690.249.
Summary
U.S. stocks closed modestly higher after a volatile session as Treasury yields reversed from multiyear highs. The 10-year yield hit a 24-year high near 5.34% before falling to 5.233%, its biggest drop in over a month, easing pressure on equities. Fed Governor Jefferson's comments suggesting the central bank may wait before hiking again pushed the probability of an October rate hike below 25%, down from 68% earlier this week. The Nasdaq edged up 0.04% to 26,871.60, while oil prices rose on Middle East tensions. Investors now turn to tomorrow's September jobs report for further direction.
At the time of this announcement, IXIC was trading at $26,871.60 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,288.79. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.