As of today, the S&P 500 Index is down 0.49%, the Dow Jones Industrial Average is down 0.96%, and the Nasdaq 100 Index is down 0.19%. Crude oil prices surged more than 4% to a two-week high following President Trump’s declaration that the U.S. ceasefire with Iran is over, triggering a flight from risk assets and impacting stock markets negatively.
The 10-year Treasury note yield rose to a one-and-a-half-month high of 4.58%, while U.S. mortgage applications fell by 2.2%, with the average 30-year fixed mortgage rate rising to 6.58%. Additionally, Q2 earnings for S&P 500 companies are projected to increase by approximately 23% according to Bloomberg Intelligence forecasts.
Overseas markets are also experiencing declines, with the Euro Stoxx 50 down 1.53% and Japan’s Nikkei-225 dropping 2.11%. The outlook for a potential 25 basis points interest rate hike at the next FOMC meeting stands at a 32% probability.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
