{"id":1621332,"date":"2022-08-25T18:33:29","date_gmt":"2022-08-25T22:33:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1621332"},"modified":"2022-08-25T18:33:55","modified_gmt":"2022-08-25T22:33:55","slug":"stocks-rise-u-s-bond-yields-ease-ahead-of-powells-jackson-hole-speech","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stocks-rise-u-s-bond-yields-ease-ahead-of-powells-jackson-hole-speech\/","title":{"rendered":"Stocks rise, U.S. bond yields ease ahead of Powell\u2019s Jackson Hole speech"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstocks-rise-u-s-bond-yields-ease-ahead-of-powells-jackson-hole-speech%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1621332&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By David Randall and Saqib Iqbal Ahmed<\/p>\n<p>NEW YORK (Reuters) \u2013     Upbeat economic data in Germany and gains in U.S. mega-cap growth stocks helped lift an index of global stock markets on  Thursday, while U.S. Treasury yields slipped as investors waited for the Federal Reserve\u2019s Jackson Hole meeting for insights into the central bank\u2019s plans to combat inflation. <\/p>\n<p>The Federal Reserve\u2019s annual monetary policy conference begins on Friday in Wyoming, with the focus on what Fed Chair Jerome Powell might say when he speaks at the conference at 10 a.m. EDT (1400 GMT) on Friday. Investors will be looking for clues on how much higher U.S. interest rates might need to go and for how long, if inflation does not significantly fall from its current 40-year highs. <\/p>\n<p>\u201cWe\u2019re in a period of time between the end of the second-quarter earnings season and meaningful additional data from the Federal Reserve. Markets are churning a bit with a reasonably low level of volatility,\u201d said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.<\/p>\n<p>GDP data from Germany, Europe\u2019s largest economy, showed the country narrowly avoided a contraction in the second quarter and better-than-feared confidence data helped keep investors\u2019 appetite firm, briefly lifting the battered euro back above dollar parity.<\/p>\n<p>The euro fell back under $1 by the time details from last month\u2019s European Central Bank meeting \u2013 when the bank hiked rates by 50 basis points (bps) \u2013 showed concerns among policymakers that inflation is becoming entrenched.<\/p>\n<p>MSCI\u2019s gauge of stocks across the globe rose 1.26%, helped by gains on Wall Street.<\/p>\n<p>The Dow Jones Industrial Average rose 322.55 points, or 0.98%, to finish at 33,291.78, the S&#038;P 500 gained 58.35 points, or 1.41%, to close at 4,199.12 and the Nasdaq Composite added 207.74 points, or 1.67%, to end the session at 12,639.27.<\/p>\n<p>The pan-European STOXX 600 index closed the session up 0.30%.<\/p>\n<p>U.S. Treasury yields slid on Thursday after hitting multi-week highs the previous session, as investors balanced positions amid uncertainty ahead of Powell\u2019s speech.<\/p>\n<p>\u201cThe bond market has already done a lot of the heavy lifting for continued messaging of a 75 basis-point hike in September,\u201d said Rich Steinberg, chief market strategist at the Colony Group in Boca Raton, Florida.<\/p>\n<p>\u201cI think the political risk for the Fed of not doing 75 is just too great, because if they slow it down in September and then the data show inflation is still too persistent, it will be hard to message to the markets to go back to be more restrictive,\u201d he added.<\/p>\n<p>The yield on benchmark 10-year Treasury notes was down 6.7 bps at 3.037%.<\/p>\n<p>JACKSON HOLE<\/p>\n<p>Investors have pared back expectations the Fed could tilt to a slower pace of rate hikes as U.S. inflation remains at 8.5% on an annual basis, well above the Fed\u2019s 2% target. But Powell\u2019s speech due on Friday will be scrutinized for any indication that an economic slowdown might alter the Fed\u2019s strategy.<\/p>\n<p>Investors now expect the Fed Funds rate to peak at 3.80% in March 2023, up from 3.62% a fortnight ago, said Tapas Strickland, NAB\u2019s economics director.<\/p>\n<p>Interest rate futures imply a 60% chance of a 75 bp Fed hike in September, up from 50% earlier this week. Euro zone money markets are now pricing in around 100 bps of ECB rate hikes by October, including a slight chance of 75 bps move next month.<\/p>\n<p>In currency markets, the dollar slipped 0.2% against a basket of currencies, while the euro was 0.05% higher at $0.9974, just below parity with the U.S. currency.<\/p>\n<p>Oil prices fell on Thursday in volatile trade as investors braced for the possible return to global markets of sanctioned Iranian oil exports and on worries that rising U.S. interest rates would weaken fuel demand.<\/p>\n<p>Brent crude settled at $99.34 a barrel, shedding $1.88, or 1.9%. U.S. West Texas Intermediate crude settled at $92.52 a barrel, losing $2.37, or 2.5%.<\/p>\n<p>Deutsche Bank strategist Jim Reid said the worry was that the energy situation in Europe keeps getting worse. <\/p>\n<p>\u201cThat\u2019s adding to fears that \u2018peak inflation\u2019 might not actually have arrived yet for some countries,\u201d he said. \u201cPolicymakers are about to face some unenviable choices as they grapple with the worst stagflation we\u2019ve seen in decades.\u201d<\/p>\n<p> (Reporting by David Randall and Saqib Iqbal Ahmed in New York; Additional reporting by Bansari Mayur Kamdar, Devik Jain and Chavi Mehta in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Nick Zieminski and Matthew Lewis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2741473\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7O0NW-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7O0NW-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2741476\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7O09B-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7O09B-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2741478\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7O01V-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7O01V-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By David Randall and Saqib Iqbal Ahmed NEW YORK (Reuters) \u2013 Upbeat economic data in Germany and gains in U.S. mega-cap growth stocks helped lift an index of global stock<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1621332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1621332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1621332"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1621332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1621332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1621332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1621332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}