US Equity Investors to Remain Focused on Treasury Yields Amid Light Macroeconomic, Corporate Calendar This Week

MT Newswires Live
Yesterday

US equity market investors will closely watch government bond yields, whose elevated levels are weighing on the stock market, as well as crude oil prices, in a week relatively light on macroeconomic data and earnings.

* Last week on Friday, the 10-year government bond yield rose, trading close to its strongest level since 2002, and the 30-year also climbed, hovering near its loftiest level since 2002, even after September's nonfarm payrolls notably lagged the forecast, while July and August jobs were revised downward for a net reduction. The yields remained elevated even after the soft August personal consumption expenditures, or PCE, price index data, which is the Fed's preferred measure of inflation.

* Investors will look out for the movement in Treasury yields, which seem to have remained firm amid a significant decline in market expectations for an interest-rate cut in October to about 22% on Friday last week from almost 70% earlier in the week, according to data compiled by the FedWatch tool.

* A limited calendar this week will focus on ISM Services, the trade balance, claims, and University of Michigan consumer sentiment/inflation expectations, according to a note from Jefferies.

* Crude oil prices were mixed early Monday after the Saudi Arabia-led military coalition said more than 300 "high value targets" have been hit in Yemen as allied ground forces battle the Houthis, according to a report from Al Jazeera, a Middle Eastern broadcaster. "We are providing air support to back the Yemeni armed forces on the ground around the clock," spokesman Major-General Turki al-Maliki said on the social media platform X, according to the news report.

* Quarterly earnings due this week include Constellation Brands (STZ), Levi Strauss (LEVI), PepsiCo (PEP), and Delta Air Lines (DAL).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10