Traders in the NYSE, May 20, 2022.
S&P 500 Futures Tuesday morning was low as business resumed following the Wall Street Memorial Day holiday. The stock recorded strong gains last week, ending seven weeks of losses S&P 500 And Nasdaq compound And an eight-week slide Dow Jones Industrial Average. The S&P 500 and Dow are up 6.5% and 6.2%, respectively, their best weekly improvements since November 2020. Tech-heavy Nasdaq, the top performing major U.S. stock index, gained 6.8% last week. The stock was helped by quality retail earnings and the Federal Reserve’s preferred inflation action late last week. The recommended price pressures in April were somewhat lower. During this four-day trading week, Sales force And Hewlett Packard Enterprise The headline in the revenue calendar, the May Jobs Report will be released on Friday.
U.S. Treasury yields rose to 10 basis points on Tuesday, up 10 basis points from 2.855%. 7:20 a.m. ET, Th 10 year treasury note The yield was 2.812%. Bonds move in the opposite direction to the price. The activity in the bond market came as shown by the initial data for May Eurozone inflation reached another record high And oil prices soared.
Investors digested the comments of Federal Reserve Governor Christopher Waller on Monday. Who said in a speech He supports the central bank raising interest rates above neutral by the end of this year. The so-called neutral rate, central bank policy, does not restrict or support economic growth.
General view of oil tankers in the port of Transneft-Cosmino, near the northeastern Russian city of Nagodka.
Yuri Maltsev Reuters
Crude oil prices rose on Tuesday, EU leaders reached an agreement late Monday to ban 90% of Russia’s oil imports by the end of the year. US benchmark West Texas Intermediate crude futures for July rose more than 3% to $ 119.43 a barrel. Internationally, the August contract for Brent crude rose about 1.65% to $ 119.54 a barrel. The latest set of EU sanctions to be finalized is the sixth in a series of camps targeting Russia over it. Invasion of Ukraine In late February. According to EU estimates, three-quarters of Russia’s crude imports will be affected immediately, rising to 90% by the end of the year. A Russian official said Moscow “Finds other importers” for its oil In response to the partial ban on the EU.
After about two months of locking up, Shanghai announced plans over the weekend to ease restrictions on business operations. Subway riders are filmed here on May 28, 2022, riding one of the city’s four lanes.
Vcg | Visual China Team | Getty Images
That’s Shanghai Corona virus The lockout is set to be lifted on Wednesday after two months of restrictions that have raised life in China’s most populous city, angering residents and disrupting the world’s second-largest economy. According to Reuters, about 22.5 million people living in low-risk areas will have their severe Govt restrictions lifted on Wednesday. Although gyms and theaters are currently closed, stores can operate at 75% capacity, according to the Associated Press. The full service of public transport on buses and subways will resume. The Shanghai lock came as part of China’s zero Govt policy.
Cameron Costa | CNBC