"Yields were down again across the Treasury curve, and some traders attributed the buying to forthcoming economic data and the fact that two new voters for the Federal Reserve both stated that the Federal funds rate could remain where it is for some time, as they saw potential for inflation to reignite. The 30-year bond closed at 4.79%, while the benchmark 10-year note was last seen at 4.14%."
"Prices were modestly lower across the energy complex, with some attributing the move to profit-taking. Concern over a U.S.-Iranian confrontation remains central, and oil prices could spike if the Strait of Hormuz were closed. Ships were advised earlier this week to avoid Iranian waters, so the threat remains. Brent Crude closed down 0.11% at $68.93, while West Texas Intermediate finished Tuesday at $64.10, down 0.40%. Natural gas ended the day at $3.12, down 0.54%."
"Gold was lower on Tuesday, as the same issues that weighed on the broader market also affected bullion. One positive noted by traders was that gold held above the $5,000 level, closing at $5,023, down 0.65%. Silver closed at $80.63, down 3.20% Crypto: The cryptocurrency market was range-bound and generally traded lower on Tuesday, as major tokens struggled to sustain recent gains and investors adopted a cautious stance ahead of critical U.S. economic data today and later this week."
Futures trade modestly higher midweek while the Dow rose 0.20% to 50,188 and the S&P 500, Nasdaq and Russell 2000 closed lower. The December retail sales report disappointed and traders await January non-farm payrolls and the January consumer price index later this week, which could drive volatility. Treasury yields fell across the curve as two new Federal Reserve voters suggested the federal funds rate could remain unchanged, with the 30-year at 4.79% and the 10-year at 4.14%. Oil and natural gas slipped on profit-taking amid continued U.S.-Iran tensions. Gold and silver declined, and cryptocurrencies traded lower and range-bound.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]