Market Overview - US stocks experienced a significant decline, with the Nasdaq leading the drop, falling almost 2% amid a shift from tech to value stocks [1] - The S&P 500 dropped approximately 1.3%, while the Dow Jones Industrial Average slipped 0.5% [1] Treasury Yields and Investor Sentiment - Treasury yields increased, with the 10-year yield surpassing 4.18% and the 30-year yield rising above 4.85% [2] - Investors are moving away from tech stocks due to renewed concerns about AI over-valuations, as Broadcom's earnings report failed to provide clarity on AI profitability, leading to a drop of over 10% in its shares despite a quarterly earnings beat [2] Cyclical Stocks and Economic Outlook - Cyclical stocks gained traction following the Federal Reserve's third interest-rate cut of the year, which has fostered optimism for US economic growth [3] - The rate cut has also contributed to a surge in gold prices, reaching a record high and positioning the precious metal for its best year since 1979 [3] Corporate Developments - Lululemon's shares surged more than 9% after the announcement of CEO Calvin McDonald's exit at the end of January, following a period of disappointing sales [4]

The Fed could have waited for delayed economic reports on inflation and employment, Chicago Federal Reserve Bank President Austan Goolsbee said. ...

Bloomberg Copper climbed to a fresh record high and most other industrial metals rose, after the Federal Reserve delivered a widely expected interest-rate cut and upgraded its growth forecast for the US economy. Copper advanced as much as 3% to $11,906 a ton in London, surpassing a peak struck on Monday. The US central bank lowered rates for a third straight meeting, but subtly changed the wording of its statement to hint at greater uncertainty around future reductions as it seeks to support growth while ...

US stock futures fell on Thursday after Oracle (ORCL) earnings revived AI overspending worries, risking the Wall Street rally that followed the Federal Reserve’s latest interest-rate cut. Contracts on the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) were down 0.3% and 0.6%, respectively, paring deeper declines from earlier in the morning. Dow Jones Industrial Average futures (YM=F), which include fewer tech names, were little changed. Oracle's after-hours earnings brought AI spending fears back with a venge ...

Bitcoin (BTC) rose Monday, supposedly in anticipation of a Federal Reserve interest-rate cut this week, although a continued rally in Treasury yields signaled caution. The Fed is expected to cut the target interest rate by 25 basis points to the 3.5%-3.75% range. It would be the third straight reduction in the cost of borrowing, amounting to a cumulative easing of 175 basis points since September 2024. Rate cuts typically inject liquidity into the financial system. This cheaper capital encourages lending ...

Group 1 - The Federal Open Market Committee is anticipated to announce a quarter-point interest-rate cut [1] - Earnings reports are expected from companies such as Toll Brothers, AutoZone, and Campbell's [1]

Mortgage rates dropped slightly this week despite some volatility in the Treasury yields they closely track. The average 30-year mortgage rate was 6.19% for the week through Wednesday, down from 6.23% a week earlier. The average 15-year mortgage rate was 5.54%, from 5.51%. Global bond yields, including the yield on the 10-year Treasury, which is most closely linked to mortgage rates, spiked on Monday after the Bank of Japan signaled that it was likely to raise interest rates this month. But in recent day ...

Bitcoin extended a tentative rebound on Wednesday, climbing to a two-week high as traders look for signs that the wider crypto market may be regaining its footing after a prolonged selloff. The original cryptocurrency rose as much as 2.6% to about $93,965, its highest intraday level since Nov. 17. Ether gained more, rising more than 4%, as Ethereum undergoes a network upgrade called Fusaka that aims to make the blockchain faster and more efficient. Other smaller tokens were mixed. Most Read from Bloombe ...

Odds of an interest-rate cut at the Fed’s meeting next week jumped in the wake of disappointing November private payroll figures, with Commerce Secretary Howard Lutnick arguing President Trump’s tariffs were not to blame for the numbers.US private payrolls lost 32,000 jobs last month – a sharp downward turn mostly accounted for by small businesses, according to the ADP National Employment Report released Wednesday. In contrast, October saw an upwardly revised increase of 47,000 jobs.The November figure larg ...

US stocks edged higher on Tuesday, eyeing a cautious comeback after a fragile start to December trading that saw sharp losses on Wall Street and in crypto. The S&P 500 (^GSPC) rose 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) added roughly 0.5%. The Dow Jones Industrial Average (^DJI) also gained around 0.3%. Stocks are poised to regain some ground as markets begin to shake off the risk-off sentiment that dominated on Monday, snapping five-day winning streaks for the three major US indexes. The l ...