Stories
US Markets Hit Record Highs Amid Bond Yields and Crude Tensions
- •US stock markets rallied for the second consecutive day, with the S&P 500 closing above 7800 for the first time.
- •Tech stocks saw notable gains with Marvell, AMD, and Broadcom rising by 3 to 6 percent.
- •Gift Nifty traded with a decline of more than 50 points, indicating a pressured opening for domestic markets.
- •Brent crude prices remained in the range of 100 to 101 dollars per barrel amid ongoing geopolitical tensions.
- •The US Treasury is considering halting the sale of 20-year bonds, which could increase government borrowing costs.
Key Questions Answered
The US stock market rallied for the second consecutive session, with the S&P 500 closing above 7,800 for the first time to set a new record. The Nasdaq Composite, Nasdaq 100, and Dow Jones also witnessed significant gains, driven by strong tech stocks like Marvell, AMD, and Broadcom.
The US Treasury is considering halting the sale of 20-year bonds because their yield has risen higher than that of the 30-year bond. BNP Paribas warned that discontinuing this bond could further increase government borrowing costs, setting a 30-year yield target of 5.8%.
Brent crude has remained between $100 and $101 per barrel while vessel movement in the Strait of Hormuz has increased despite continued attacks. Meanwhile, Saudi-backed Yemeni forces regained control over the Bab el-Mandeb Strait following numerous airstrikes on Houthi positions.
