S&P 500 flat as higher bond yields offset tech optimism
The benchmark index was little changed as the 10-year Treasury yield rose to 5.078%, near its highest level since 2007. US job openings fell to 7.079 million in August and consumer confidence came in at 81.9, below estimates.
17%, S&P and Nasdaq flat At least six Fed officials to speak through the day CarMax jumps after posting higher second-quarter profit, revenue (Updates after markets open) By Shashwat Chauhan and Tharuniyaa Lakshmi Sept 29 (Reuters) — The benchmark S&P 500 was flat on Tuesday, as rising government bond yields hurt risk sentiment and offset gains in AI-related stocks driven by optimism about Anthropic's plan to go public. 078% — near its highest level since 2007 — strengthening expectations of a tighter monetary policy. Oil prices retreated, but concerns that energy-driven inflation would force central banks to keep interest rates elevated for longer hit risk assets.
US President Donald Trump earlier said he has offered Iran nothing to end the war, rejecting media reports that he was willing to offer some relief from sanctions. m. 40. 51 — both trading flat.
8%. Chipmakers helped offset declines as they recovered some ground after the previous session's sharp fall. 1%. Megacap and growth stocks were mixed.
Meta Platforms and Nvidia advanced, while Microsoft and Apple fell around 1% each. Tech stocks were in focus as Anthropic's IPO prospectus showed how the AI lab has grown sharply in the last year but also posted wider losses. The company is targeting a $2 trillion-plus valuation, possibly setting a benchmark for how Wall Street measures AI leaders. "The market is in somewhat of a show-me phase," said Newton Jones of Zizmer-Jones Private Wealth Management Group at Steward Partners.
" The AI theme, which has powered most of the bull run since October 2022, remains crucial. Remarks from OpenAI CEO Sam Altman during the company's DevDay event later in the day would be on investors' radar. 079 million in August, a US Labor Department report showed. 2.
Economic data has increasingly been under scrutiny, with the Federal Reserve dialing back commentary on policy outlook under Chair Kevin Warsh. Traders currently see a 70% chance of another interest rate hike in October, according to the CME FedWatch Tool. At least six Fed officials, including New York Fed President John Williams, are set to speak on Tuesday. 8% after reporting increased second-quarter profit and revenue.
1% after Federal Housing Finance Agency Director Bill Pulte said Fannie Mae and Freddie Mac will move to a single pricing grid. 09-to-1 ratio on the Nasdaq. The S&P 500 posted six new 52-week highs and 23 new lows while the Nasdaq Composite recorded 24 new highs and 128 new lows. com;)