The data took pressure off mega-cap technology and growth stocks, which had been hurt by expectations of aggressive US interest rate hikes. In the previous day, it was the technological ones that led the greatest decline.
At the open, the Dow Jones Industrial Average rose 0.5% to 34,505.40 units; the S&P 500 index gains 0.7%, to 4,444.09 units; and the Nasdaq Composite improves 1.15%, to 13,562.96 units.
One of the most dangerous scenarios for the markets is a slowdown in the economy. Optimism about global growth has sunk to a record low, and recession fears have risen in the global investment community, according to the latest survey of fund managers from Bank of America Corp.
Elsewhere, US Treasury yields edged lower with the benchmark 10-year bond yield on track for its first drop in eight sessions.
The yield on the 10-year Treasury note fell 6.6 basis points to 2.7%. The yield had previously risen to 2.836%, its highest level since December 19, 2018.
The yield on the 30-year Treasury bond fell 4.9 basis points to 2.772%, on track for its first decline in seven sessions. The yield had previously touched 2.86%, its highest level in nearly three years. The yield on the two-year note, which generally moves in step with interest rate expectations, fell 8.4 basis points to 2.4%.
High inflation and comments from Federal Reserve officials have cemented the view that the central bank will be more aggressive in taking action to combat rising prices, which has also raised concerns that the Fed may make a policy error. politics and cause a recession.
In the rest of Europe, the main stock markets register falls. The British FTSE corrected 0.7%, the German DAX 0.56% and the French CAC 0.22%.
The Petroleum, for its part, rises more than 5% in both Brent and West Texas. Benchmark crude in Europe is trading at $140, while the US barrel is below $100.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
