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Market Insights Today: End of quarter rebalancing, BOE tentatively calms markets – September 29, 2022
The Nasdaq Composite rallied 2.1%, and the S&P500 gained 1.97%, snapping its six-day rout. Treasuries jumped after the BOE gave some respite and that pushed down 10-year yields 21bps to 3.73% after briefly breaching 4.00%. The dollar also weakened across the board supporting gains. Nasdaq was bolstered by gains from Amazon with its shares gaining 3.2% after it pushed further into wellness, security and the auto industry. On the flip side, Apple’s shares sank about 1.3% on news it is not increasing iPhone production, which casts doubt over the outlook for consumer spending. The U.S. treasury yields (TLT:xnas, ... (full story)
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- Posted: Sep 28, 2022 10:18pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 774
