Stocks edge up as oil hovers near three-month lows ahead of Warsh debut

MacroCommodityDigital Finance
โดย Reuters·Read original
Summary · why it matters

Stocks edged up and currencies were subdued on Wednesday ahead of Kevin Warsh's debut as Federal Reserve chair, while oil prices remained near three-month lows, easing inflation pressure and pushing bond yields lower. Brent crude fell as far as $77.75 a barrel, down more than a third from April peaks, before recovering to $79.29. The prospect of extra supply from a potential U.S.-Iran deal added to optimism that has pushed U.S. Treasury yields lower this week, with 10-year yields edging up 1.7 basis points to 4.44% but remaining about 22 basis points below their May peak. Cooling inflation expectations lifted euro zone government bonds for a fifth day, driving 10-year German yields to their lowest since early April, while British yields fell sharply after May inflation unexpectedly held at a 13-month low of 2.8%. The pan-European STOXX 600 rose 0.3%, staying close to Monday's record, and Wall Street futures pointed to a bounce in tech stocks after heavy losses among U.S. chipmakers, with Broadcom, Micron, AMD and Intel rising between 1.5% and 3.5% in premarket trading.

Impact on stocks 4

Artificial Intelligence▲ · 2 stocks
Advanced Micro Devices Inc
AMD
▲ PositiveMonetaryrelevance

Lower bond yields and easing inflation pressure support tech valuations, with AMD mentioned as rising in premarket.

Broadcom Inc
AVGO
▲ PositiveMonetaryrelevance

Lower bond yields and easing inflation pressure support tech valuations, with Broadcom mentioned as rising in premarket.

Semiconductors▲ · 2 stocks
Intel Corporation
INTC
▲ PositiveMonetaryrelevance

Lower bond yields and easing inflation pressure support tech valuations, with Intel mentioned as rising in premarket.

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