Wall Street Boosts Global Equity as Treasury Yields Rise

Global equity indices rose with Wall Street's help, while U.S. Treasury yields reached a seven-month high amid declining consumer confidence. Key technology stocks boosted Nasdaq and S&P 500 despite concerns about fewer Fed rate cuts in the future. Currency valuations and oil prices were affected by these developments.


Devdiscourse News Desk | Updated: 24-12-2024 03:26 IST | Created: 24-12-2024 03:26 IST
Wall Street Boosts Global Equity as Treasury Yields Rise
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A global equity index saw an uptick on Monday, buoyed by Wall Street's gains, while U.S. Treasury yields reached their highest point in nearly seven months. Concerns about a deterioration in U.S. consumer confidence also emerged as investors braced for fewer Federal Reserve rate cuts in 2025, influencing market dynamics.

Key technology stocks rallied, providing a lift to Nasdaq and the S&P 500, as noted by Robert Phipps of Per Stirling Capital Management. Despite these rallies, the underlying strength of U.S. indexes appeared weaker, with the market adjusting to a less dovish Fed policy direction.

On the currency front, the dollar rebounded while the euro and other major currencies adjusted following global central bank meetings. Meanwhile, oil prices experienced slight declines due to anticipated supply surpluses and a stronger dollar, impacting commodity markets alongside subdued trading in gold.

(With inputs from agencies.)

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