"The futures are trading higher as we get ready to close out a volatility-filled week that saw a massive roller coaster ride on Thursday after NVIDIA Corp. ( NASDAQ: NVDA) earnings ignited a rally on the open that reversed at midday and finished the day deep in the red. Wall Street pundits cited everything from the old Wall Street adage "Buy the rumor and sell the news" to the September jobs report, which was finally released and came in stronger than expected."
"Yields across the curve were lower on Thursday, as the sharp market reversal following NVIDIA's positive earnings sent investors running to the safe haven of U.S. sovereign debt. Even though worries over the Fed pausing in December and not cutting rates remain a factor, the massive volatility spike made bonds a good landing area on Thursday. The 30-year bond finished the day at 4.73% while the benchmark 10-year note was last seen at 4.10%."
Futures traded higher after a volatile week that included a sharp intraday reversal following NVIDIA Corp. earnings. The September jobs report came in stronger than expected, raising concern that the Federal Reserve may delay or forgo a 25-basis-point cut next month. New York Fed President John Williams said rates could be reduced given current weakness in the jobs market, prompting a reversal in futures. Major indices ended Thursday lower: Dow Jones Industrial Average 45,752 (-0.84%), S&P 500 6,538 (-1.56%), NASDAQ 22,078 (-2.16%). Treasury yields fell as investors sought safe havens; 30-year 4.73%, 10-year 4.10%. Brent closed at $63.05 and WTI at $58.68.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]