Dow Drops 200 Points as Yields Rise…and Rise…and Rise
Dow Drops 200 Points as Yields Rise…and Rise…and Rise
The Dow is doing something it hasn't done since the '80s, and it could signal new highs
16 May, 2018, 09:01
A surge in USA government bond yields to their highest level in nearly seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the United States and China.
The Dow Jones industrial average lost 162 points, or 0.6 percent, to 24,739. The S&P 500 index fell 18.69 points, or 0.7% to 2,711.44. The Nasdaq composite dropped 0.8 percent to 7,351.63 as Amazon, Microsoft and Google-parent Alphabet all pulled back more than 1 percent. Among the worst performers on the S&P 500, Agilent Technologies (A) shares dropped almost 10% after the maker of medical instruments and other equipment posted quarterly earnings that matched forecasts late Monday.
Retail sales reported a monthly increase of 0.3%.
Stocks are opening moderately higher on Wall Street, led by gains in technology, health care and energy companies. The Dow Jones Small-Cap Value TSM Index closed at 10,162.47 for a gain of 1.12 points or 0.01%.
The yield curve steepened from near its flattest levels since 2007, with the spread between the 2 year and 10 year bond yields widening 5bps to 50bps.
Ederson signs new seven-year contract with Manchester City Pep Guardiola has done the impossible. "We were better than our opponents and the records we broke came from the way we played". Those who questioned whether Guardiola could cut it in England after a hit-and-miss first season must be eating their words.
The prospect of higher mortgage rates weighed on home builders, while the rise in bond yields sent stocks that pay high dividends lower. The yield on the 10-year Treasury rose to 3.07 percent from 3 percent late Monday.
The Nasdaq is up 448.24 points, or 6.5 percent.
ENERGY: Benchmark U.S. crude oil reversed an early side, rising 35 cents to settle at $71.31 a barrel in NY. Brent crude, used to price worldwide oil, added 20 cents to close at $78.43 a barrel in London. NXP's share price rose by 11.9% and Qualcomm added 2.7% to its value. The euro weakened to $1.1884 from $1.1974. Gold fell $27.90, or 2.1 percent, to $1,290.30 an ounce. Copper slipped 4 cents, or 1.2 percent, to $3.06 a pound. Williams said he thought the "new normal" for the neutral rate was around 2.5% (he added that he didn't expect the fiscal stimulus to have any more than a 0.25% impact on neutral) while Kaplan put it in a range of 2.5-3%.
In a statement, Planned Parenthood called the law "blatantly unconstitutional" and "extremely harmful to women". The legislation would require doctors to conduct an abdominal ultrasound to test for a fetal heartbeat.
Both centers Lars Eller and Evgeny Kuznetsov had a goal and two assists as six different Capitals added tallies for the team. But after getting rolling Tuesday with the pair of power-play goals, the Lightning scored twice more at 5-on-5.
She said she was trying to break up a fight between her son and his wife when her daughter-in-law attacked her instead. When Glover's 62-year-old mother intervened, his wife "redirected her anger and the altercation" from him to her.
HTC's blockchain phone will come with its own universal wallet and advanced security features to keep cyber criminals at bay. While HTC's phone isn't available yet, it's rumoured that the company may sell the phone in exchange for cryptocurrency.
She defended herself at the time by saying that the pair were just talking and that the teen was no longer a student. Rachael DelTondo was supposed to tie the knot in 2017, but only four months later, the wedding was called off.
Turkey recalled its ambassador to both Israel and the United States, while South Africa brought its ambassador back from Tel Aviv. In the West Bank, Palestinian president Mahmud Abbas declared a general strike on Tuesday after accusing Israel of "massacres".
As a result, City won £39,755,923 in prize-money, to runner-up United's £37,768,127, according to research from by MailOnline. Four of the last five Premier League title winners have completely disintegrated the following season .
Lawsuits already have been filed by 16 other US states, Puerto Rico and New York City against the privately held company. The suit was filed in Travis County District Court and alleges deceptive trade practices allegations.
Presidents who have won the Nobel Prize include, Theodore Roosevelt, Woodrow Wilson, Jimmy Carter, and Barack Obama . The letter is also signed by the governors of Alabama, Guam, Kansas, Mississippi, Maine and West Virginia.
The couple divorced 12 years ago, but Shivers claims that Perrette continues to "stalk and defame" him, according to The Blast . No morals, no obligation to fact, and I'm simply left right here, studying the lies, attempting to guard my crew.
Leon was allegedly tased and arrested by the LAPD after Rihanna's assistant found him at her California home. It is not believed that the singer was at home during the alleged incident in Los Angeles on 9 May.
It's the kind of match WWE needs and it's also the kind of 5-star performance that Vince McMahon must watch with an open mind. Braun Strowman and Finn Balor teamed up in the third tag team contest on WWE Raw against Dolph Ziggler and Drew McIntyre.
James unworried despite Game 1 rout
Boston went aggressive from the opening tip, building a 36-18 bubble in the 1st quarter before erecting a 61-35 halftime lead. While at Kansas, Marcus Morris averaged 12.6 points and 6.2 rebounds per game according to sportsreference.com .
Iran Threatens To Restart Nuclear Arms Program
Le Maire said Paris would seek to strengthen Europe's ability to block sanctions and provide investment finance to companies. In this case, the US chose to also impose "secondary sanctions", which also apply to non-Americans and non-U.S. companies.
Anwar's release to be 'slightly' delayed
Anwar's prison sentence ends June 8, but without a royal pardon he would be barred from politics for five years. He has been in hospital for a few months recovering from a shoulder operation.
Google updates Pixel Buds with support for new gestures
First up, you can triple-tap the right earbud to turn your Pixel Buds off or on, something Google says users have been requesting. You can continue to use a Google Assistant voice command to skip tracks, even if you assign two taps to the "next" track feature.
Cardi B Defends Rita Ora's "Girls" Amid Backlash
Rita's backlash comes after the singer touched on her romantic experiences with men and women. "I learned and i stopped using it". The chorus goes "Sometimes I just wanna kiss girls , girls girls / red wine I just wanna kiss girls , girls, girls ".