On Wall Street US futures up after nightmare Thursday, which saw the S&P 500 lose 2.1% to 3,640.47, capitulating to the new low of 2022; the Dow Jones fell more than 458 points, up 1.54%, to 29,225.61, and the Nasdaq Composite slipped 2.84% to 10,737.51.
At approximately 13.16 Italian time, the futures on the Dow Jones rose by approximately 90 points (+ 0.30%); those on the S&P 500 advance by 0.40%, those on the Nasdaq recover 0.30%.
The recovery of the US stock exchange is explained by the reversal of the yields of the Treasuries, which retrace from the record values tested in the last sessions.
US 10-year Treasury rates dropped to 3.686%, after spiking over 4% during the week, to 4.019% for the first time since 2008, so in 14 years, and then dropped in one session. stronger from 2020.
The sharp turnaround was triggered by the Bank of England’s decision to postpone the start of the UK government bond disposals it had planned for next week, by buying long-term Gilts on a temporary basis, in order to counter the market chaos:
chaos that has been caused by the decision of the government of Liz Truss to launch a maxi fiscal bazooka of tax cuts that economists and strategists do not consider sustainable.
Two-year Treasury rates today drop to 4.145%, after flying to 4.351% during the week approaching completion, the highest since August 2007.
The main US stock indices are preparing to end the week negative; the S&P 500 lost 1.4%, the Dow and Nasdaq both lost 1.2%.
Deep in the red for the entire month of September: the S&P 500 fell 7.9% and the Dow Jones suffered a fall of 7.2%.
Worse the Nasdaq, which is preparing to close the month with a collapse of 9.1%.
Among Apple stocks, recovering from a thud in the eve of the session, equal to -4.91% at an altitude of $ 142.48, which brought it to a lows of almost 3 months, worsening the balance of 2022 to almost -22% .
It impacted Bank of America’s decision to cut the stock recommendation from buy to neutral by citing weakening consumer demand and disappointing response to the new iPhone 14. BofA’s target price jumped from USD 185 to USD 160 for action. The stock remains under pressure in the premarket, losing approximately 0.16%.