Reported 12 months ago
US stocks opened the second half of 2024 with gains despite surging bond yields, with the S&P 500 and Nasdaq Composite finishing the first half with strong increases. Tech stocks and investor confidence in a potential Federal Reserve interest rate cut are driving the market. Concerns arise over market concentration as a select few stocks push record highs. Rising bond yields are attributed to the US election outlook and uncertainty following right-wing leads in European elections. The 10-year Treasury yield rose to 4.469%. Eyes are on the upcoming jobs report for insight into future monetary policy, with economists predicting a moderation in job growth from May.
Source: YAHOO