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U.S. stock market starts today's trading with declines
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Market estimates the size of the next rate hike
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10-year Treasury yields rise nearly 3%
The last U.S. trading session this week began with declines in stock index valuations. The mood in the stock market has deteriorated, and markets continue to assess what interest rate hikes we can expect in the future. Yields on U.S. 10-year notes jumped nearly 3% by mid-day. There are no significant macro readings scheduled today.
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Create account Try a demo Download mobile app Download mobile appThe market is currently pricing close to 57% for a 75 basis point rate hike at the Fed's September meeting. Source: Bloomberg
US index quotes. Source: xStation 5
Compiled charts of the US100 index and VIX on the D1 interval. The benchmark of technology companies starts today's session with declines. The VIX fear index is gaining nearly 2.00% today. Source: xStation 5
News:
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Investors' attention continues to be captured by the situation on 'meme stocks'. The shares of Bed Bath & Beyond (BBBY.US) are losing nearly 40% at the opening. GameStop (GME.US) shares are losing 9%. Ryan Cohen sold all his shares in BBBY incurring a profit of $58 million.
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Deere (DE.US) shares lose 5.2% following the release of weak quarterly results. EPS came in at $6.16 against forecasts of $6.69. The company lowered full-year forecasts.
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Source: Bloomberg
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A sudden sell-off in the cryptocurrency market negatively affected sentiment around Coinbase (COIN.US) and MicroStrategy (MSTR.US), which are losing nearly 9% early in the session.
News from US stock exchange companies. Source: Bloomberg
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