Stocks rose amidst the latest developments from the US-China trade war. The Dow Jones, S&P 500, and the Nasdaq climbed after China announced measures aimed at increasing consumption, including “potentially removing car-buying restrictions”. The recent escalation in the US-China trade relations has dented stocks this month; the major averages came into Tuesday’s session down more than 3% each in August. Due to slower growth and the tension surrounding the trade negotiations, the dollar was driven higher and treasury yields were driven lower. The yield on 10-YearTreasury declined two basis points and the yield on 2-yearTreasuries fell one basis point. Auctions will be held for $40 billion in 2-yearTreasury notes, $41 billion in 5-year notes and $32 billion in 7-year notes. As trade negotiations continue, Gold inched above $1,530 an ounce and West Texas Intermediate crude climbed to $54.23 a barrel.
Hiring and income gains are keeping consumers upbeat and relieving concerns about the economy’s prospects in light of unpredictable financial markets and escalated trade tensions; continued confidence in consumers could allow for sustained household spending. The Federal Reserve Bank of Richmond’s monthly survey, for manufacturers based in the Carolina’s, the District of Columbia, Maryland, Virginia, and West Virginia, showed steady improvement for overall business activity. The new orders index rose to 2.00 this month from -18.00 in July and the shipments index rose to 5.00 from -13.00. The Richmond Fed district accounts for about 9.10 percent of the nation’s gross domestic product.
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Stocks rose amidst the latest developments from the US-China trade war. The Dow Jones, S&P 500, and the Nasdaq climbed after China announced measures aimed at increasing consumption, including “potentially removing car-buying restrictions”. The recent escalation in the US-China trade relations has dented stocks this month; the major averages came into Tuesday’s session down more than 3% each in August. Due to slower growth and the tension surrounding the trade negotiations, the dollar was driven higher and treasury yields were driven lower. The yield on 10-Year Treasury declined two basis points and the yield on 2-year Treasuries fell one basis point. Auctions will be held for $40 billion in 2-year Treasury notes, $41 billion in 5-year notes and $32 billion in 7-year notes. As trade negotiations continue, Gold inched above $1,530 an ounce and West Texas Intermediate crude climbed to $54.23 a barrel.
Hiring and income gains are keeping consumers upbeat and relieving concerns about the economy’s prospects in light of unpredictable financial markets and escalated trade tensions; continued confidence in consumers could allow for sustained household spending. The Federal Reserve Bank of Richmond’s monthly survey, for manufacturers based in the Carolina’s, the District of Columbia, Maryland, Virginia, and West Virginia, showed steady improvement for overall business activity. The new orders index rose to 2.00 this month from -18.00 in July and the shipments index rose to 5.00 from -13.00. The Richmond Fed district accounts for about 9.10 percent of the nation’s gross domestic product.
The curve has bull-flattened with UST 10-Year yield down 3.88 bps.