US stocks ended Friday's trading session in the red, as the benchmark 10-year Treasury yield hovered just below 5% in the wake of“The underlying message is 'don’t be looking for a bailout from the Fed anytime soon,'” Greg Whiteley, a portfolio manager at DoubleLine, told Reuters. "That gives people the go-ahead to take rates above 5%.”
How the Israel-Hamas conflict unfolds will also be top of mind for policymakers and investors. Market watchers will also continue tracking the surge in bond yields as they hover just under 5%.Fed Chair Jerome Powell said in a speech Thursday that the central bank is monitoring the developments for economic implications."Geopolitical tensions are highly elevated and pose important risks to global economic activity," he said.
The turmoil could continue to push oil prices higher, injecting even more volatility into an energy market that has been at the forefront of the debate surrounding inflation. Higher prices would further complicate the Fed's mission to bring down inflation. And similar to the Russian invasion of Ukraine, dealing with the potential of a Middle East energy shock would fall outside of the control of the central bank, even as the Fed would have to contend with the fallout.
: Shares plummeted more than 25% after a a brutal earnings report from the solar equipment maker. The company said it experienced"substantial unexpected cancellations" from its European distributors triggering a sell-off among solar-based stocks. Deutsche Bank downgraded a trio of solar stocks — Sunnova Energy -- A landmark condominium project in one of Toronto’s ritziest neighborhoods has been put into receivership after construction delays and cost overruns.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »