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HomeFinance NewsDow, S&P 500 Rise; Attention Turns to GameStop, Peloton Stocks

Dow, S&P 500 Rise; Attention Turns to GameStop, Peloton Stocks

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The Treasury market, which experienced significant turmoil recently, appears to have settled for now. Yields on the 10-year note are slowly rising, currently at around 4.66%, after a rapid climb that caused unease among investors. However, they are still on track for a fourth consecutive daily gain. The increase in oil prices has also halted, providing some relief to bond prices. With the front-month Brent futures contract surpassing $96 a barrel, there is hope that the 10-year Treasury will stabilize soon, as indicated by Keith Lerner, co-chief investment officer at Truist Advisory Services.

Stock indexes showed mixed performance, with the S&P 500 slightly increasing in morning trading. European indexes were relatively flat, while Asian indexes declined. In Europe, bond yields saw a rise. GameStop shares saw an increase following the appointment of Ryan Cohen as its CEO. Ryan Cohen’s appointment comes after months without a CEO for the videogame retailer. Additionally, Peloton’s stock gained after reaching a deal with Lululemon to sell co-branded apparel. The WSJ Dollar Index declined, suggesting a potential end to its seven-day streak of gains influenced by rising bond yields. This shift in the dollar may have implications for the stock market.

In summary, the Treasury market has found some stability, with yields on the 10-year note edging higher but at a slower pace. The pause in the rise of oil prices has also helped ease losses in bond prices. Stock indexes displayed mixed performance across different regions, while European bond yields increased. GameStop shares rose following the appointment of a new CEO, and Peloton’s stock gained after striking a deal with Lululemon. The WSJ Dollar Index fell, potentially signaling the end of its seven-day streak of gains, which could impact the stock market.

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