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By Staff Reporters
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Here is where the major benchmarks ended:
Bond yields and stock prices often move inversely to each other, in part because higher interest rates on virtually risk-free bonds lower the premium investors can expect from riskier assets like stocks, making it less appealing to buy equities. Last week, the 10-year Treasury yield briefly increased to 4.10%, near a three-week high, before dropping back near 4% Monday.
- The S&P 500 index was up 66.30 points (1.4%) at 4,763.54; the Dow Jones Industrial Average was up 216.90 points (0.6%) at 37,683.01; the NASDAQ Composite was up 319.70 points (2.2%) at 14,843.77.
- The 10-year Treasury note yield (TNX) was down about 3 basis points at 4.015%.
- The CBOE® Volatility Index (VIX) was down 0.28 at 13.07.
Semiconductors shares were among the strongest performers, helped by a surge of 6.4% in Nvdia Corp. (NVDA), the top 2023 performer in the S&P 500 with a gain of 239%. Small-cap stocks were also firm as were consumer discretionary and communication services. The Russell 2000® Index (RUT) gained 1.9% to partly climb back from last week’s 3.7% drop.
Energy shares were soft because crude oil futures sank nearly 4% following reports Saudi Arabia lowered its prices.
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Filed under: "Ask-an-Advisor", Alternative Investments, Breaking News, Financial Planning, Funding Basics, Glossary Terms, Investing, Touring with Marcinko | Tagged: banks, bond yields, DJIA, energy, gold, inflation, Marcinko, markets, metals, NASDAQ, NVDA, Nvidia, oil, real estate, Russell Index 2000, RUT, S&P 500, stock markets, TNX, utilities, VIX | Leave a comment »
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