[US market conditions]S & P500 rebounds slightly, CPI refraining-10-year bond yield below 3% –Bloomberg

In the US stock market on the 10th, the S & P 500 stock index rebounded for the first time in 4 business days. Ahead of the announcement of the US Consumer Price Index (CPI) the next day, there were conspicuous scenes in which the closing price on the previous day was squeezed in an attempt to digest the statements made by US financial officials one after another.

S & P 500 species finished at 4001.05, 0.3% higher than the previous day. The Dow Jones Industrial Average is down $ 84.96 (0.3%) to $ 32160.74. Nasdaq Composite Index rose 1%.

The Nasdaq 100 index, which consists of large high-tech stocks, finished at 1.3% higher than the rate of increase of the three major stock indexes. According to Bloomberg data, the index’s market capitalization disappearance in the last three business days was the largest in 20 years.

The April CPI announced on the 11th is expected to show that upward pressure on prices is still strong, but the year-on-year growth is expected to slow from March.

Scott Radner, Chief Investment Officer of Horizon Investments, said, “The action to balance the sell and buy positions ahead of the CPI announcement the next day will explain most of the price movements that day. Is widely expected to slow down, and investors don’t seem to want to short to avoid short squeeze. “

In an interview with Bloomberg Television, Cleveland Fed President Mester said, “We will not rule out a rate hike of 75 basis points (bp, 1bp = 0.01%) forever.” The Federal Reserve Bank of New York’s governor, Williams, said authorities expect to “act swiftly to bring the federal funds rate back to normal levels by the end of the year.”

NY Fed Governor, unemployment rate rises “somewhat” -in response to high inflation (1)

The US Treasury market has risen except for 2-year bonds. The three-year bond auction that took place on that day was strong. As of 4:38 pm New York time, 10-year bond yields fell 5bp to 2.99%.

In the foreign exchange market, the dollar index has continued to grow for four business days. With the announcement of the US CPI ahead on the 11th, it rose as it digested the statements of several US financial officials.

The Bloomberg Dollar Spot Index, which shows the movement of the dollar against the 10 major currencies, rose 0.2%. As of 4:39 pm New York time, the dollar has risen against all of the 10 major currencies except the Swedish krona.

The dollar is 0.1% higher than the yen, and the dollar is 130.45 yen. The euro is down 0.3% against the dollar at 1 euro = 1.0530 dollars.

The New York crude oil futures market continued to fall below $ 100 since late April. Inflation has accelerated in the United States, raising concerns that authorities will be forced to respond with the risk of entering a recession.

The rise in the dollar also weakened the investment appeal of crude oil traded in dollars. Efforts to get Hungary to support the continued resistance to the European Union’s proposal to ban the import of Russian oil were also conscious.Average retail prices for US gasoline and diesel are according to data from the National Automobile Association (AAA).The record high was set.

The June contract for West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) ends at $ 99.76 a barrel, down $ 3.33 (3.3%) from the previous day. In the two days from the previous day, it decreased by nearly 10%. The North Sea Brent July contract for the London ICE is $ 102.46, down $ 3.48 from the previous day.

New York gold futures prices continue to fall. The dollar rose slightly amid refraining from releasing various inflation statistics, and the attractiveness of gold investment as a refuge asset receded. The June contract for gold futures on the New York Board of Trade (COMEX) ends at just $ 1841, an ounce down 1% from the previous day.