The US stock market is perhaps responding to a 1.41% drop in the 10-Year Treasury rate, a major focus point for equity investors.
BUZZ already has support from some big names. Jim Cramer says that the ETF ‘resonates’ with him.
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On Monday, the broader markets gained with bond yields falling from last week’s high and bringing optimism back to Wall Street. Stocks across tech, aviation, energy, and electric-vehicle sectors gained properly.
Stock markets worldwide reacted positively to the drop in the 10-year US Treasury Yield as well as the $1.9 trillion stimulus package approved by the House.
Overlooking the fears of inflation and rising interest rates, the stock market registered bullish momentum on the outlook of quick economic recovery. Fed Chairman Jerome Powell has said that it will take a long time for inflation to pick up.
However, some tech stocks took the heat on Tuesday following the heightened talks about the inflation concerns.
Owing to the expectations of strong economic recovery, the bond yields jumped 1.35% on Monday, with a total surge of 27 basis points so far in February. While stocks remained under pressure, the long-term effect of growing economic activity could be positive for Wall Street.
Economies all over the world are beginning to recover. Asia seems to be leading the world. For Japan’s Nikkei 225 in particular, reaching a major milestone, topping 30,000, a first in over 3 decades.
The coronavirus vaccination program in the United States of America and around the world is also a boost to the growth of the global stock market.
Wall Street’s rally has resulted mostly from investors’ bet on a new fiscal relief package and a global vaccine roll-out that could lead to a faster economic recovery.
As the Reddit-fueled frenzy slows down, investor confidence in the broader market seems to be restored again thanks to the tech giants like Amazon and Alphabet whose earnings report suggests phenomenal growth during Q4 2020.
After a week of heavy speculative trading, the market remained optimistic on Monday with liquidity concerns alleviating. The S&P 500 registered its best daily gains since November 24, 2020.
The GameStop episode has pushed hedge funds to book billions of dollars in losses. Reports suggest that following it, hedge funds have been moving money out of the market at the fastest rate since 2014.
The rallies in the shares of GameStop and AMC are outpacing the broader US stock market indices these days.