https://www.srilankasource.com/news/274935988/us-stocks-kick-new-week-off-on-divided-note
NEW YORK, New York - U.S. stock markets were mixed Monday with the Dow Jones making appreciabel gains, while tech stocks were sold off sharply. Demnd for industrial stocks accelarated as Treasury yields continued higher, with the 10-yield hitting a fourteen month high.
“With the 10-year yield potentially getting to 5 percent, I think it’s going to be very hard for the equity market to really gain any meaningful traction here until there’s - at minimum - stability in interest rates,” Adam Turnquist, chief technical strategist at LPL Financial told CNBC Monday.
“We don’t think there’s risk of the market going over to bear market territory, but certainly a correction could be in the cards on a short-term basis,” Turnquist added.
Mixed Performance in Forex Markets Amid Global Economic Concerns
Monday’s foreign exchange trading session saw modest moves across major currency pairs, with a bias towards the U.S. dollar, as investors weighed economic data and central bank signals. Below is a snapshot of how some of the most-watched pairs fared:
EURUSD (Euro / US Dollar)
The EURUSD pair slipped to 1.0212, marking a 0.27 percent decline. Ongoing uncertainty about the Eurozone’s economic outlook added downward pressure on the common currency.
USDJPY (US Dollar / Japanese Yen)
The dollar-yen cross inched lower to 157.67, a modest 0.01 percent drop. Investors remain cautious as Japan’s inflation data and potential Bank of Japan policy shifts continue to influence yen valuation.
USDCAD (US Dollar / Canadian Dollar)
The USDCAD rate dipped to 1.4408, falling by 0.05 percent. Softer US data and rising oil prices helped lend some support to the Canadian dollar.
GBPUSD (British Pound / US Dollar)
Sterling edged down against the dollar to 1.2170, a 0.21 percent decline, as traders evaluated the UK’s latest economic figures and continued Brexit-related uncertainties.
Global Markets Close Mostly Lower as Investors Weigh Economic Signals
Investors around the globe witnessed a broadly negative trading session today, with most major indices closing in the red. Concerns over economic growth and shifting monetary policies weighed on sentiment, although a few markets managed to eke out modest gains.
Outlook
Overall, the trading day highlighted persistent investor caution over global economic growth. While most major equity benchmarks slipped lower, traders will now look ahead to upcoming corporate earnings releases and central bank announcements for further guidance. The few bright spots, such as Israel’s TA-125, underscored that selective gains remain possible even amidst broader market weakness.
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