Stock Futures – Stock futures fell as 10-year yields hit their highest level since January 2020
WE Action futures were lower than on Tuesday as bond yields hit a 14-month high before President Biden unveiled a $ 3 trillion infrastructure package this week.
Dow Jones Industrial Average futures fell 29 points, or 0.09%, while S&P 500 and Nasdaq futures fell 0.24% and 0.69%, respectively. The Dow opens slightly below Monday’s record high as key averages show a 10-year yield of 1.77%, up from the level seen in January 2020.
BIDEN’S INTRODUCTION PLAN SAYS “PUNISHMENT OF MARRIAGE” INCLUDES “PROPER DESTROYMENT” OF INDICATORS
At the same time, financial indicators prevailed as the rapid growth in long-term bond yields strengthened the yield curve.
However, Credit Suisse AG and Nomura Holdings Inc. on Monday, Archegos Capital Management came under pressure after the hedge fund said it would face huge losses as it needed to open billions of dollars in positions.
In the coming months, PayPal Holdings Inc. will launch a cryptocurrency verification service that will convert U.S. coins into Fiat currency that can be used to purchase digital coins.
In raw materials, West Texas Intermediate fell $ 1.07 to $ 60.49 a barrel as the Suez Canal opened and gold fell to $ 25.60 to $ 1,689 an ounce after the Ever Given container ship sank.
READ MORE IN LOVEBYLIFE ENTREPRENEURSHIP
In Asia, Hong Kong’s Hang Seng index rose 0.84%, China’s Shanghai Composite 0.62% and Japan’s Nikkei 225 0.16%.