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Stock Market News: Dow Snaps Losing Streak
The S&P 500 and the Nasdaq Composite also finshed higher, led by a rally in chip stocks.
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Jan. 18, 2024 at 6:44 PM EST
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Treasury Yields Rise As Bostic Argues for Late Cuts
Treasury yields increase as Atlanta Fed's Bostic pushes back on markets rosy interest-rate expectations.
The 10-year gains 0.039 percentage point to 4.142% while the two-year gains 0.003 p.p. to 4.355%.
Both lower-than-expected weekly jobless claims and housing starts a bit above forecast boosted yields in early trade.
Later, Bostic expressed skepticism that interest-rate cuts would arrive before the 3Q, while markets expect them to start in March.
Consumer and housing data are due tomorrow. Next week brings 4Q GDP estimate, durable goods orders and PCE inflation, while the Fed enters the silence period ahead of its next rate decision.