Stocks Pressured as Bond Yields Rise and Chip Stocks Fall

Market attention this week will focus on the US economic news. On Friday, Sep personal spending is expected to increase by +0.3% and Sep personal income is expected to climb +0.3% m/m. Also on Friday, the Sep core PCE price index, the Fed’s preferred inflation measure, is expected to climb by +0.2% m/m and +2.8% y/y. Finally, the University of Michigan's Dec consumer sentiment index is expected to climb by +1.0 to 52.0.President Trump said on Tuesday that he will announce his selection for the new Fed Chair ...