{"id":131678,"date":"2021-07-09T14:10:56","date_gmt":"2021-07-09T14:10:56","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131678"},"modified":"2021-07-09T14:10:56","modified_gmt":"2021-07-09T14:10:56","slug":"stocks-rebound-as-bond-yields-stabilize","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/stocks-rebound-as-bond-yields-stabilize\/","title":{"rendered":"Stocks rebound as bond yields stabilize"},"content":{"rendered":"

Should investors \u2018root for\u2019 a taper tantrum? <\/h2>\n

SlateStone Wealth chief market strategist Kenny Polcari and The Leuthold Group chief investment strategist Jim Paulsen on how investors should react to recent market movements and the Federal Reserve.\u00a0<\/p>\n

U.S. stock markets rallied Friday as the major averages looked to put their steepest one-day decline in nearly a month in the rearview mirror.<\/p>\n\n\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
I:DJI<\/td>\nDOW JONES AVERAGES<\/td>\n34770.45<\/td>\n+348.52<\/td>\n+1.01%<\/td>\n<\/tr>\n
SP500<\/td>\nS&P 500<\/td>\n4349.4<\/td>\n+28.58<\/td>\n+0.66%<\/td>\n<\/tr>\n
I:COMP<\/td>\nNASDAQ COMPOSITE INDEX<\/td>\n14585.84395<\/td>\n+26.06<\/td>\n+0.18%<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Dow Jones Industrial Average rose 215 points, or 0.63%, while the S&P 500 and the Nasdaq Composite ticked up 0.47% and 0.15%, respectively. The major averages on Thursday lost between 0.72% and 0.86%, making for the biggest one-day drops since June 18.<\/p>\n

The appetite for stocks caused money to rotate out of the bond market, causing the yield on the 10-year note to rise 5 basis points to 1.34% after finishing Thursday at its lowest level since Feb. 18.<\/p>\n

GOLD INVESTORS CALL FED’S INFLATION BLUFF<\/strong><\/p>\n

In stocks, financials bounced back as selling in the U.S. Treasury market swung the yield curve steeper.  <\/p>\n\n\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
GS<\/td>\nTHE GOLDMAN SACHS GROUP, INC.<\/td>\n367.87<\/td>\n+8.69<\/td>\n+2.42%<\/td>\n<\/tr>\n
JPM<\/td>\nJPMORGAN CHASE & CO.<\/td>\n154.26<\/td>\n+3.21<\/td>\n+2.12%<\/td>\n<\/tr>\n
WFC<\/td>\nWELLS FARGO & CO.<\/td>\n43.35<\/td>\n+1.04<\/td>\n+2.46%<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Meanwhile, President Biden on Friday signed an executive order targeting bank mergers by calling on the Federal Reserve and Department of Justice to step up scrutiny of those deals.<\/p>\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
PMI<\/td>\nn.a.<\/td>\nn.a.<\/td>\nn.a.<\/td>\nn.a.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Elsewhere, cigarette maker Philip Morris International on Friday agreed to buy British drugmaker Vectura for $1.44 billion (1.05 billion pounds) as it looks to diversify away from tobacco.<\/p>\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
GM<\/td>\nGENERAL MOTORS CO.<\/td>\n58.22<\/td>\n+2.11<\/td>\n+3.76%<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

General Motors Co. was initiated with an outperform rating and an $85 price target at Wedbush Securities as the Detroit-based automaker looks to roll out "game-changing" battery technology and at least 20 electric models over the next two years. <\/p>\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
LEVI<\/td>\nLEVI STRAUSS & CO.<\/td>\n29.16<\/td>\n+1.16<\/td>\n+4.14%<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

In earnings, Levi Strauss & Co. beat Wall Street estimates on both the top and bottom lines and issued a full-year profit forecast that easily exceeding expectations. The apparel maker also hiked its quarterly dividend by 2 cents to 8 cents a share. <\/p>\n\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
SPCE<\/td>\nVIRGIN GALACTIC HOLDINGS INC.<\/td>\n50.02<\/td>\n-2.73<\/td>\n-5.17%<\/td>\n<\/tr>\n
UFO<\/td>\nPROCURE ETF TRUST II PROCURE SPACE ETF<\/td>\n30.78<\/td>\n+0.30<\/td>\n+1.00%<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Investors are also eyeing space stocks and exchange-traded funds ahead of Richard Branson's historic Virgin Galactic flight set for Sunday.<\/p>\n

In commodities, West Texas Intermediate crude oil jumped $1.15 to $74.09 a barrel and gold edged up $2.80 to $1,803 an ounce. <\/p>\n

Overseas markets were mostly higher. <\/p>\n

GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n

European bourses rallied across the board with France’s CAC 40 trading up 1.66%, Germany’s DAX 30 gaining 1.05% and Britain’s FTSE 100 advancing 0.6%. <\/p>\n

In Asia, Hong Kong’s Hang Seng index outperformed, rising 0.7%, while China’s Shanghai Composite and Japan’s Nikkei 225 slipped 0.04% and 0.63%, respectively. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Should investors \u2018root for\u2019 a taper tantrum?<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nStocks rebound as bond yields stabilize - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/stocks-rebound-as-bond-yields-stabilize\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks rebound as bond yields stabilize - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Should investors \u2018root for\u2019 a taper tantrum?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/stocks-rebound-as-bond-yields-stabilize\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-09T14:10:56+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/stocks-rebound-as-bond-yields-stabilize\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/stocks-rebound-as-bond-yields-stabilize\/\",\"name\":\"Stocks rebound as bond yields stabilize - 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