XLV - Stocks Fight To Extend Winning Streak Treasury Yields Rise: What's Driving Markets Monday? | Benzinga
The beginning of the week brought mixed performance for stocks on Wall Street, with the major indices trading close to the flatline during midday trading in New York following strong performance in the previous week.
The S&P 500 index is in the midst of its fifth consecutive day of gains, while the Nasdaq 100 has already logged six consecutive days of positive returns.
Monday’s rise in Treasury yields is presenting some challenges to further advances in the stock market. Defensive sectors like utilities, health care and staples outperformed cyclicals and tech.
Federal Reserve Governor Lisa D. Cook delivered a speech at Duke University expressing the expectation that current policy measures are sufficiently restrictive to bring inflation back to the target rate of 2%.
Cues From Monday’s Trading:
The S&P 500 was flat, while both the Nasdaq 100 and the Dow Jones Industrial Average were marginally higher by 0.1%.
Small caps showcased a robust 1.2% drop, after a strong week of gains.
US Index Performance In Week Ended Nov. 3
Index Performance (+/-) Value
Nasdaq 100 +0.13% 15,123.28
S&P 500 Index +0.03% 4,360.18
Dow Industrials +0.12% 34,102.32
Russell 2000 -1.18% 1,739.88
Analyst Color:
LPL Financial Chief Technical Strategist Adam Turnquist has taken the market’s comeback with ...