Premarket
Bond yields pushing up everywhere with traders and investors needing to think about the implications if things keep at this path.
10-year yields
10-year Treasury yields hit a high of 4.81% earlier, the highest since October 2023.
Germany 3.37% highest since 2011
French 4.24% highest since 2008
UK 5.26% highest since 2008.
Japan 3.02% the highest since 1996.
Treasury yield
2-year fell 0.4 basis point to 4.41%,
10-year rose 0.8 basis point to 4.81%,
30-year rose 0.4 basis point to 5.28%.
USD/JPY a high of 160.40 in Asia to 159.45. The dollar higher across the board but is only down against the yen today, with USD/JPY lower by 0.3% to 159.70 currently. EUR/USD is down 0.2% to 1.1573 and NZD/USD is down 1.2% to 0.5820 after the RBNZ raised interest rates but hinted at a more gradual tightening path after.
Gold battle around the $4,300 mark as sellers look to push for more after the drop yesterday.
WTI crude down slightly by 0.8% to $89.44 after hitting over $92 in Asia earlier, still ~7% gains this week.
European stocks are reeling from higher yields
US futures shaky after three consecutive daily declines since Friday last week.
Dow futures +0.05%,
S&P 500 futures -0.03%,
Nasdaq futures -0.51%.
Among S&P 500 stocks
Dell Technologies (DELL) +8.01%, Hewlett Packard Enterprise (HPE) +3.99%, Teledyne Technologies (TDY) +2.00%, Welltower (WELL) +1.61%, and Super Micro Computer (SMCI) +1.44%.
Palo Alto Networks (PANW) -1.90%, Dominion Energy (D) -1.87%, Moderna (MRNA) -1.67%, ServiceNow (NOW) -1.65%, and Marvell Technology (MRVL) -1.37%.
Ahead: ADP Employment Report and the Federal Reserve’s Beige Book.