#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.
Stocks notch record highs; Treasury yields climb
InternationalAug 26. 2020
By Syndication Washington Post, Bloomberg · Claire Ballentine, Vildana Hajric · BUSINESS
U.S. equities rose to all-time highs for a third day with investors counting on the Federal Reserve to stay accommodative as the economy recovers from the coronavirus pandemic.
The S&P 500 and the Nasdaq Composite notched fresh highs, with Facebook Inc. rallying after unveiling a series of tools designed to expand shopping on its social media platforms. The Dow Jones industrial average declined for the first time in four days. Treasury yields increased and the dollar weakened.
“It’s pretty remarkable, the risk-on trade, for the past couple of months,” said Michael Reynolds, investment strategy officer at Glenmede Trust Co. “It just seems like a benign day as we sit near the all-time highs.”
Oil rose as traders eyed Tropical Storm Laura, which is expected to strengthen into a hurricane before making landfall later this week. U.S. gasoline futures rose to the highest level since March on concern over possible fuel shortages.
In addition to geopolitics and business confidence, investors are focused on vaccine progress as global economies reopen amid fresh outbreaks of the virus. Moderna Inc. said it’s near a deal to supply at least 80 million vaccine doses to the European Union.
“The pattern we’re watching seems to be vaccine clarity means buy the socially distant losers, all of the sectors that have taken a beating since you can’t get together,” said Mike Bailey, director of research at FBB Capital Partners.
Traders are also awaiting Fed Chair Jerome Powell’s scheduled speech on Thursday about the Fed’s long-awaited monetary policy framework review, which has focused on a new inflation strategy.
“If you think about what’s been driving markets, it’s really been the pace of recovery and primarily multiples have expanded due to hyper-loose monetary policy,” Troy Gayeski, co-chief investment officer of SkyBridge Capital, told Bloomberg TV.
Elsewhere, gold traded below $1,950 an ounce.
These are the main moves in markets:
Stocks
The S&P 500 Index gained 0.3% to 3,443.67 as of 4:01 p.m. EDT, the highest on record.
The Dow Jones industrial average decreased 0.2% to 28,248.75.
The Nasdaq Composite Index rose 0.8% to 11,466.47, the highest on record.
The Stoxx Europe 600 Index dipped 0.3% to 369.75.
Currencies
The Bloomberg Dollar Spot Index decreased 0.3% to 1,171.60.
The euro increased 0.4% to $1.1832.
The Japanese yen depreciated 0.4% to 106.40 per dollar, the weakest in more than a week.
Bonds
The yield on 10-year Treasurys gained three basis points to 0.68%, the highest in a week on the biggest rise in more than a week.
Germany’s 10-year yield increased six basis points to -0.43%, the highest in more than a week on the largest increase in almost 12 weeks.
Britain’s 10-year yield gained five basis points to 0.263%, the highest in almost 11 weeks on the biggest climb in almost two weeks.
Commodities
West Texas Intermediate crude rose 1.8% to $43.36 a barrel, the highest in almost six months on the largest advance in a week.
Gold was little changed at $1,928.47 an ounce.
Silver depreciated 0.1% to $26.52 per ounce, the weakest in more than a week.
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