{"id":48384,"date":"2017-10-24T06:13:41","date_gmt":"2017-10-24T06:13:41","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=48384"},"modified":"2017-10-24T06:13:41","modified_gmt":"2017-10-24T06:13:41","slug":"wall-street-closes-lower-treasury-prices-higher","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/wall-street-closes-lower-treasury-prices-higher.html","title":{"rendered":"Wall Street closes lower Treasury prices higher"},"content":{"rendered":"

Wall Street closes lower Treasury prices higher<\/span><\/strong><\/span><\/h2>\n

Wall Street closes lower Treasury prices higher: General Electric (GE.N) tumbled 6.3 percent after some research analysts lowered their price targets on the stock, citing higher chances of a dividend cut at the industrial conglomerate.<\/span><\/p>\n

U.S. Treasury prices rose slightly, tracking gains in the European bond market. Investors added to their positions after a sell-off the last few days ahead of this week\u2019s debt auctions and a European Central Bank monetary policy meeting.<\/span><\/p>\n

Benchmark 10-year U.S. Treasury notes US10YT=RR were last up 3\/32 in price to yield 2.3719 percent, from 2.381 percent late on Friday. The 30-year bond US30YT=RR were last up 4\/32 to yield 2.8873 percent, from 2.894 percent late on Friday.<\/span><\/p>\n

Wall Street opened at record highs following Japanese Prime Minister Shinzo Abe\u2019s emphatic win in weekend polls. The victory also sent the dollar to a three-month high against the yen, as investors bet the win would mean a continuation of \u201cAbenomics,\u201d the ultra-loose policies that have kept downward pressure on the yen.<\/span><\/p>\n

The Japanese yen strengthened 0.16 percent versus the greenback at 113.35 yen per dollar JPY=.<\/span><\/p>\n

The Dow Jones Industrial Average .DJI fell 54.67 points, or 0.23 percent, to end at 23,273.96, the S&P 500 .SPX lost 10.23 points, or 0.40 percent, to 2,564.98 and the Nasdaq Composite .IXIC dropped 42.23 points, or 0.64 percent, to 6,586.83.<\/span><\/p>\n

Quincy Krosby, chief market strategist at Prudential Financial, headquartered in Newark, New Jersey, said the market is not down in a \u201cmeaningful\u201d way, but taking a pause.<\/span><\/p>\n

\u201cThis is the week for earnings,\u201d she said. \u201cThe market basically wants to ascertain that they\u2019re going to see top-line revenue growth and bottom-line performance before they commit themselves.\u201d<\/span><\/p>\n

Corporate earnings have gotten off to a strong start, with 73.2 percent of the 97 S&P companies beating profit expectations versus a 72-percent beat rate over the past four quarters.<\/span><\/p>\n

European STOXX 600 shares rose 0.16 percent, although Madrid’s bourse IBEX .IBEX shed 0.6 percent, as Spain’s crisis entered another week.<\/span><\/p>\n

Madrid took the unprecedented step of firing the government of Catalonia on Saturday in a last resort to thwart its push for independence. Catalan leaders called for civil disobedience in response.<\/span><\/p>\n

The pan-European FTSEurofirst 300 index .FTEU3 rose 0.11 percent and MSCI’s gauge of stocks across the globe .MIWD00000PUS shed 0.28 percent.<\/span><\/p>\n

Japan’s Nikkei .N225 rose 1.11 percent.Emerging market stocks .MSCIEF lost 0.34 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.23 percent lower.<\/span><\/p>\n

Argentina\u2019s stocks jumped as investors bet a strong electoral performance from President Mauricio Macri\u2019s coalition could boost his reform agenda.<\/span><\/p>\n

Argentina’s benchmark Merval index .MERV rose 3.1 percent.<\/span><\/p>\n

Gold prices touched a more than two-week low before paring losses as chart signals helped offset pressure from a stronger dollar and an early advance in equities.<\/span><\/p>\n

Spot gold XAU= added 0.2 percent to $1,282.47 an ounce. U.S. gold futures GCcv1 gained 0.26 percent to $1,283.80 an ounce.<\/span><\/p>\n

Source:http:\/\/www.reuters.com\/article\/us-global-markets\/wall-street-closes-lower-treasury-prices-higher-idUSKBN1CR0X3<\/span><\/p>\n

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