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U.S. stocks fall as Treasury yields rise on expectation of more rate hikes

Stock Markets Nov 17, 2022 10:41AM ET
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By Liz Moyer 

Investing.com -- U.S. stocks fell early on Thursday as Treasury yields rose after the suggestion the Federal Reserve wasn’t close to ending its interest rate increases to stop inflation.

At 10:38 ET (15:38 GMT), the Dow Jones Industrial Average was down 194 points or 0.6%, while the S&P 500 was down 1%, and the NASDAQ Composite was down 0.9%.

The 2-year Treasury yield rose to 4.446% while the 10-year Treasury yield rose to 3.777%. St. Louis Fed President James Bullard said the central bank’s policy rate hasn’t yet reached “a zone that may be considered sufficiently restrictive.”

The Fed has raised its benchmark rate by 0.75 percentage point at each of its last four meetings and is widely expected to raise again at its December meeting, though possibly at a smaller half-point increment.

Strong retail sales data on Wednesday and lower than expected jobless claims from last week may muddy the picture for the Fed, which wants to cool the economy while avoiding massive job losses.

Shares of Macy’s, Inc. (NYSE:M) rose 12% after the department store chain raised its full-year profit outlook, while Kohl’s Corp. (NYSE:KSS) shares rose 3.9% after it withdrew its own sales and profit forecasts.

Chipmaker NVIDIA Corporation's (NASDAQ:NVDA) shares rose 1.5% after beating quarterly revenue estimates on strong demand in its data center business.

Oil fell. Crude Oil WTI Futures was down 2.2% to $83.69 a barrel, while Brent Oil Futures crude fell 1.3% to $91.64 a barrel. Gold fell 0.8% to $1760.

U.S. stocks fall as Treasury yields rise on expectation of more rate hikes
 

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Comments (8)
Djamshid Bakiev
AMMM Nov 17, 2022 11:07AM ET
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let people lose their jobs and put economy into recession - nice goals FED! Oct inflation was already down, so give it time and job market reacts to hikes too. I mean this is a perfect situation: inflation is going down and job market is strong, isn't it a sign of soft landing?
jason xx
jason xx Nov 17, 2022 11:06AM ET
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People expecting rates over 4.75 should read the G20 statement on rate hikes.
King Robin
King Robin Nov 17, 2022 11:06AM ET
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They gonna pay war on us….
Raymond Ong
Raymond Ong Nov 17, 2022 10:46AM ET
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being it up or down, these people still have a lot of cocks to talk.
Arno Pfohl
JackR3acher Nov 17, 2022 10:41AM ET
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why did the US500 go up anyway... speculative and deceptive behaviour by hedge funds...
David Beckham
David Beckham Nov 17, 2022 10:41AM ET
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100rasie next month easy short their job is lower the number no one care people lose their job or not easy short
Mitchel Pioneer
Mitchel Pioneer Nov 17, 2022 10:34AM ET
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Breaker #1 in the books, as the curtain rises on the criminal magic show, right on schedule.  And to think millions of American's have their retirement hopes pinned to this manipulated JOKE.
Casador Del Oso
Casador Del Oso Nov 17, 2022 10:30AM ET
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Strong retail and strong employment. 75bps rate hike in December.
King Robin
King Robin Nov 17, 2022 10:30AM ET
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Strong recession
me ish
me ish Nov 17, 2022 10:27AM ET
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Jerome has already made it perfectly clear what conditions are necessary for them to start reducing interest rates or at least reducing the rate of increasing them - and those conditions simply haven't been met - the bulls cling to the flimsiest info as to why the FED will pivot - so this bullish counter rally is over, albeit the large companies are institgating a massive stock buy back programme in an attempt to pump stocks up temporarilly and keep the party going for end of year bonuses for the board.
 
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