[US Market]S & P500 Small Rebound, High Energy and Financial-High Tech Fall-Bloomberg

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In the US stock market on the 23rd, the S & P 500 stock index and the Dow Jones Industrial Average rose. It was supported by the purchase of cyclical brands. Meanwhile, the tech sector continued to sell yesterday as growth stocks outlook was clouded by rising US Treasury yields.

The S & P 500 species ended in the plus zone after having a conflict in the final stage. Energy stocks and financial stocks were strong. On the other hand, the Nasdaq 100 index, which is centered on high-tech stocks, has fallen. The day before, it was sold well one hour before closing. Zoom Video Communications plunged due to concerns over slowing business growth.

Zoom shares plunge, market capitalization temporarily drops by more than $ 100 billion from peak

S & P 500 species are 4690.70, 0.2% higher than the previous day. The Dow Jones Industrial Average rose $ 194.55 (0.6%) to $ 35813.80. The Nasdaq Composite Index fell 0.5%.

The US Treasury market has fallen. Demand for 7-year bond auctions was stronger than expected, but the yield curve has become steeper. As of 4:20 pm New York time, 10-year bond yields have risen 6 basis points (bp, 1bp = 0.01%) to 1.68%.

First American Trust Chief Investment Officer Jerry Brakman said, “If you look at the market on this day, it’s clearly interest rate sensitive.” “Technology is showing some weakness, while finance is showing strength, which reflects the movement of the yield curve,” he said.

In the foreign exchange market, the dollar index continued to grow for three business days and hit a high for the first time in a year and two months. The background is the observation that the reappointment of the chairman of the Federal Reserve Board (FRB) at Powell means accelerating the pace of policy tightening. Supported by corporate dollar buying and rising US Treasury yields, the dollar surpassed 115 yen against the yen for the first time in about four years.

Scotiabank’s Sean Osborne and colleagues said, “The risk of fast-paced tapering and rate hikes is factored into U.S. short-term bonds, and the market is likely to start raising fed funds (FF) rates in June. We’re incorporating it, “he said in a customer report.

As of 4:21 pm New York time, the Bloomberg Dollar Spot Index, which shows the movement of the dollar against the 10 major currencies, has risen 0.1%. The dollar is up 0.2% against the yen to 1 dollar = 115.14 yen. The euro is up 0.1% against the dollar at 1 euro = 1.1249 dollars.

New York crude oil futures prices continue to grow. It was the highest in two weeks. The scale of the coordinated strategic petroleum stockpiling (SPR) release plan by the consuming countries was smaller than the market expectation. In the United States, most of the products will be released on the assumption that they will be returned to SPR in the future, so there is a view that supply and demand will tighten.

To release oil reserves such as the United States and Japan-major consuming countries cooperate to respond to high crude oil prices

The January contract for West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) ends at $ 78.50 a barrel, up $ 1.75 (2.3%) from the previous day. The January contract for Brent North Sea in London ICE is up $ 2.61 to $ 82.31.

NY gold futures continue to fall. The decline continued following the re-election of Fed Chair Powell. He is not believed to be as dovish as Brainard, another candidate for chair.

The February contract for gold futures on the New York Board of Trade (COMEX) ended at $ 1786.30, down 1.3% from the previous day.