Market Coverage: Thursday July 1st Yahoo Finance
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Get the latest up-to-the-minute continuous stock market coverage and big interviews in the world of finance every Monday–Friday from 9 am to 5pm (ET).
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Stock futures traded mixed Thursday morning, steadying after the major equity indexes closed out a strong second quarter and first half of the year.
Contracts on the S&P 500 were little changed to slightly higher after the index logged yet another record closing high during the regular trading day on Wednesday. The blue-chip index gained 14.4% for the year to date, and ended June with a more than 2% gain for a fifth straight monthly rise. A batch of strong economic data helped propel equities higher during Wednesday's session, with private payrolls growing by a better-than-expected 692,000 in June and pointing to a potentially strong print in the Labor Department's "official" June jobs report on Friday.
For the April through June quarter, the information technology, real estate and communication services sectors outperformed amid a broad-based rotation back into technology and growth stocks. The rotation coincided with lessened concerns over inflationary pressures, as investors considered signs that price increases would be only transitory in the early stages of the recovery. The cyclical energy and financial sectors, however, are still the best performers for the year-to-date.
"I still think energy and financials are a decent place to be," Shawn Snyder, Citi U.S. Wealth Management head of investment strategy, told Yahoo Finance. "And I think that even as we've seen the 10-year Treasury yield decline over the past three months as inflation expectations came down a bit, I still think odds are yields will move higher over time ... and those sectors that are sensitive to interest rates, which are energy and financials, I still think make sense."
"What we're looking at is moving a little bit away from the U.S. and more towards areas that haven't recovered fully," he added, noting as an example that U.K. equities trade at a significant discount to many of those in the U.S. "In the U.S., I would say airlines, leisure and hospitality, have not fully recovered yet compared to where they were prior to this pandemic. So I think there's still room to run there."
For more on this article which is updated throughout the day, please visit:
https://finance.yahoo.com/news/stock-market-news-live-updates-july-1-2021-221546079.html
Видео Market Coverage: Thursday July 1st Yahoo Finance канала Yahoo Finance
#YahooFinance #investing #stockmarket #bitcoin #crypto
Get the latest up-to-the-minute continuous stock market coverage and big interviews in the world of finance every Monday–Friday from 9 am to 5pm (ET).
#YahooFinance #Stocks #coronaviruscovid19 #2020election #jobsreport
Stock futures traded mixed Thursday morning, steadying after the major equity indexes closed out a strong second quarter and first half of the year.
Contracts on the S&P 500 were little changed to slightly higher after the index logged yet another record closing high during the regular trading day on Wednesday. The blue-chip index gained 14.4% for the year to date, and ended June with a more than 2% gain for a fifth straight monthly rise. A batch of strong economic data helped propel equities higher during Wednesday's session, with private payrolls growing by a better-than-expected 692,000 in June and pointing to a potentially strong print in the Labor Department's "official" June jobs report on Friday.
For the April through June quarter, the information technology, real estate and communication services sectors outperformed amid a broad-based rotation back into technology and growth stocks. The rotation coincided with lessened concerns over inflationary pressures, as investors considered signs that price increases would be only transitory in the early stages of the recovery. The cyclical energy and financial sectors, however, are still the best performers for the year-to-date.
"I still think energy and financials are a decent place to be," Shawn Snyder, Citi U.S. Wealth Management head of investment strategy, told Yahoo Finance. "And I think that even as we've seen the 10-year Treasury yield decline over the past three months as inflation expectations came down a bit, I still think odds are yields will move higher over time ... and those sectors that are sensitive to interest rates, which are energy and financials, I still think make sense."
"What we're looking at is moving a little bit away from the U.S. and more towards areas that haven't recovered fully," he added, noting as an example that U.K. equities trade at a significant discount to many of those in the U.S. "In the U.S., I would say airlines, leisure and hospitality, have not fully recovered yet compared to where they were prior to this pandemic. So I think there's still room to run there."
For more on this article which is updated throughout the day, please visit:
https://finance.yahoo.com/news/stock-market-news-live-updates-july-1-2021-221546079.html
Видео Market Coverage: Thursday July 1st Yahoo Finance канала Yahoo Finance
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