Economics
U.S. Stocks Advance, 10-Year Yield Targets 3.1%: Markets Wrap
- Treasuries slump anew amid housing, manufacturing reports
- WTI oil fluctuates around $71; gold reverses an advance
PGIM's Sheets Says 10 Year Treasury Is Returning to More Historically Normal Ranges
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U.S. stocks advanced and 10-year Treasury yields pushed toward 3.1 percent as retailer results and solid economic data boosted confidence in the American economy. The euro fell amid political uncertainty in Italy.
The S&P 500 Index rose above its average price for the past 100 days and the Russell 2000 Index hit an all-time high. The 10-year note yield advanced anew as factory production and housing starts showed strength in the economy. Europe’s common currency fell as Italy moved closer to a populist government and the German chancellor cautioned that the region’s central bank will eventually ease stimulus.