S&P 500 jumps as Treasury yields remain steady on easing bets of November hike
Investing.com -- The S&P 500 jumped Tuesday as investors continued to digest remarks from Federal Reserve officials hinting at another pause on rate hikes next month.Atlanta Federal Reserve President Raphel Bostic added to expectations that the Fed will hold rates steady next month, saying “a lot” of the 11-rate hikes delivered since March 2022 are yet to filter through the economy.
The key part of Treasury yield curve continue to unwind its inversion amid easing recession fears, with the 2-year rate over the 10-year Treasury rate narrowing to -29 basis points, the lowest level since March and well above the trough of -106 bps seen in the summer.) gave up gains despite Morgan Stanley reiterating the tech giant remains a top pick amid optimism over its strength in its artificial intelligence, cybersecurity, and cloud businesses.
The upgraded guidance from Pepsi “will mark the third consecutive year of digital digit EPS growth, outpacing its HSD long-term target,” Wedbush said in a note.) rose more than 6% to lead the broader financials sector higher after Semafor reported that the firm is in talks to sell its brokerage business to private equity company Stone Point for about $10 billion.
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