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S&P 500 Slips as Surging U.S. Yields Dent Tech Amid Blowout Jobs Report

By Yasin Ebrahim AiVIF.com -- The S&P 500 eased from its lows Friday, but remained under pressure by a fall in tech after a blowout monthly jobs report stoked expectations for...
S&P 500 Slips as Surging U.S. Yields Dent Tech Amid Blowout Jobs Report © Reuters

By Yasin Ebrahim

AiVIF.com -- The S&P 500 eased from its lows Friday, but remained under pressure by a fall in tech after a blowout monthly jobs report stoked expectations for larger rate hikes sending Treasury yields surging higher.

The S&P 500 fell 0.44%, the Dow Jones Industrial Average fell 0.34%, or 111 points, the Nasdaq was up 1.91%.

The U.S. economy added 528,000 new jobs in July, topping consensus for 250,000 new jobs in June, while the unemployment rate unexpectedly fell to 3.5%.

The jobs report also flagged an uptick in wage pressures that will likely keep inflation elevated, and give the Federal Reserve the green light to continue front-loading rate hikes.

Traders are betting the Federal Reserve’s peak interest rates, or the so-called terminal rate, is at 3.6%, but this won’t be enough to stem inflation given the strong labor market, Jefferies said.

“The terminal rate currently priced into the curve looks woefully inadequate. We expect the Fed to keep hiking through Q1’23 until they push the funds rate to 4-4.25%,” Jefferies added.

If the Fed turns more hawkish than expected, “the market will take that as a big negative, because right now it's pricing in a Fed funds rate that is nearer to the end of cycle,” Chief Market Strategist David Keller at StockCharts told AiVIF.com in an interview on Friday.

Two-year U.S. Treasury yields, which are sensitive to Fed rate hikes, jumped to its highest level in nearly two months. The 10-year yield also soared, rising more than 6%.

Growth sectors of the market, which tend to be unattractive in a rising rate environment, were the hardest hit with big tech and consumer discretionary stocks leading the downside.

Tesla (NASDAQ:TSLA) led the move lower in consumer stocks, down 7% after shareholders backed the company’s proposed 3-for-1 stock split.

The earnings front, meanwhile, served up mixed quarterly results with LYFT the standout performer on the day following stronger than expected earnings.

LYFT (NASDAQ:LYFT) jumped 7% after the ride-hailing company reported a surprise quarterly profit as demand jumped to pre-pandemic levels.

AMC Entertainment (NYSE:AMC) reported a slightly wider-than-expected quarterly loss and announced that it would issue dividend to all common shareholders in the form of preferred shares.

The move in effect “creates a two-for-one stock split, with half listed under 'AMC' and half under 'APE' [stock ticker],” Wedbush said.

Block (NYSE:SQ) fell 2% despite delivering quarterly results that beat on both the top and bottom lines as investors digested a 34% slump in its Cash App business.

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17-08-2022 22:39:19 (UTC+7)

EUR/USD

1.0166

-0.0004 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/USD

1.0166

-0.0004 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

GBP/USD

1.2043

-0.0050 (-0.41%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

USD/JPY

135.43

+1.22 (+0.91%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

AUD/USD

0.6916

-0.0106 (-1.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

USD/CAD

1.2924

+0.0080 (+0.63%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/JPY

137.66

+1.17 (+0.86%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

EUR/CHF

0.9692

+0.0038 (+0.39%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (6)

Gold Futures

1,777.40

-12.30 (-0.69%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (6)

Sell (2)

Silver Futures

19.677

-0.408 (-2.03%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (5)

Sell (3)

Copper Futures

3.5745

-0.0500 (-1.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Crude Oil WTI Futures

86.83

+0.30 (+0.35%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Brent Oil Futures

92.50

+0.16 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Natural Gas Futures

9.195

-0.134 (-1.44%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

US Coffee C Futures

219.95

+0.60 (+0.27%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (11)

Euro Stoxx 50

3,753.25

-51.97 (-1.37%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

S&P 500

4,263.80

-41.40 (-0.96%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

13,630.66

-279.46 (-2.01%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (2)

FTSE 100

7,516.15

-19.91 (-0.26%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (4)

Hang Seng

19,922.45

+91.93 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (4)

US Small Cap 2000

1,978.20

-42.06 (-2.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

IBEX 35

8,434.88

-77.02 (-0.90%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (1)

BASF SE NA O.N.

42.890

-1.860 (-4.16%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Bayer AG NA

53.38

-0.92 (-1.69%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (3)

Allianz SE VNA O.N.

177.39

-2.55 (-1.42%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Adidas AG

168.88

-4.48 (-2.58%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (8)

Deutsche Lufthansa AG

6.465

-0.282 (-4.18%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

108.44

-3.60 (-3.21%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

8.840

-0.124 (-1.38%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.0166↑ Sell
 GBP/USD1.2043↑ Sell
 USD/JPY135.43↑ Buy
 AUD/USD0.6916↑ Sell
 USD/CAD1.2924↑ Buy
 EUR/JPY137.66Neutral
 EUR/CHF0.9692Neutral
 Gold1,777.40Neutral
 Silver19.677Neutral
 Copper3.5745↑ Sell
 Crude Oil WTI86.83↑ Sell
 Brent Oil92.50↑ Sell
 Natural Gas9.195↑ Sell
 US Coffee C219.95↑ Sell
 Euro Stoxx 503,753.25↑ Sell
 S&P 5004,263.80↑ Sell
 DAX13,630.66Neutral
 FTSE 1007,516.15Neutral
 Hang Seng19,922.45Neutral
 Small Cap 20001,978.20↑ Sell
 IBEX 358,434.88Neutral
 BASF42.890Neutral
 Bayer53.38Neutral
 Allianz177.39Buy
 Adidas168.88↑ Sell
 Lufthansa6.465↑ Sell
 Siemens AG108.44↑ Sell
 Deutsche Bank AG8.840Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(20/ 20) # 1,674
SJC HCM6,620/ 6,720
(20/ 20) # 1,695
SJC Hanoi6,620/ 6,722
(20/ 20) # 1,697
SJC Danang6,620/ 6,722
(20/ 20) # 1,697
SJC Nhatrang6,620/ 6,722
(20/ 20) # 1,697
SJC Cantho6,620/ 6,722
(20/ 20) # 1,697
Cập nhật 17-08-2022 22:39:21
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,763.89-11.79-0.66%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$87.13-0.06-0.07%
Brent$92.34+0.060.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR23.186,9924.485,46
GBP27.597,2628.774,17
JPY169,51179,46
KRW15,4518,83
Cập nhật lúc 18:50:59 17/08/2022
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