Futures on major US stock indices are negative, anticipating a negative start for Wall Street. At 13.48 Italian time, futures on the Dow Jones, the S&P 500 and the Nasdaq are down about 0.90%.
10-year Treasury rates rise again, returning to the 3.693% threshold. Two-year Treasury rates are up slightly to 4.121%.
Wall Street has just returned from its second consecutive buying session since the beginning of October.
In yesterday’s session, the Dow Jones Industrial Average flew 825.43 points, or + 2.8%, to 30,316.32 points; the S&P 500 advanced nearly 3.1% to 3,790.93 points and the Nasdaq Composite rallied 3.3% to 11,176.41. With yesterday’s gains, the S&P 500 reported the strongest two-day rally since 2020.
The buy was supported by the significant turnaround in US Treasury rates, with 10-year yields dropping even below the 3.6% threshold yesterday, compared to the over + 4%, a record since 2008, tested last week , on the back of anxiety over further aggressive anti-inflation rate hikes by Jerome Powell’s Fed. But the yields today are back to rise precisely.