RANI - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. The S&P (SP500) and Dow (DJI) finished up for the second week in a row. The Nasdaq (COMP.IND) ended the week down as rates steadily gained from Monday to Thursday following mixed inflation data. But they tumbled today after the University of Michigan reported preliminary August sentiment that saw one of the biggest tumbles in 50 years. Worries about the COVID Delta variant hit all aspects of the survey. The 10-year Treasury yield slumped 8 basis points to 1.29% Friday, having been as high as nearly 1.38% as the reflation trade gained steam again. For the week, the Dow led the major averages, up 0.9%, while the S&P gained 0.7%. The Nasdaq edged down 0.1%. Inflation picture far from clear as PPI arrives and yields swing

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Wall Street Breakfast: What Moved Markets