Tech drives stock rebound as bond yields decline
BNN Bloomberg
Technology companies drove a rebound in stocks, with investors weighing the start of the earnings season against geopolitical and inflation risks.
Technology companies drove a rebound in stocks, with investors weighing the start of the earnings season against geopolitical and inflation risks.
The S&P 500 halted a three-day drop, while the tech-heavy Nasdaq 100 outperformed. Treasuries rose, sending benchmark 10-year yields below 2.7 per cent. The loonie wavered after the Bank of Canada raised its interest rate by half a percentage point in its biggest hike in more than two decades.
Prices paid to U.S. producers jumped in March from a year ago by the most in records back to 2010, topping all estimates and underscoring persistent early-stage inflationary pressures that risk feeding through to consumers. The report reinforces pressure on the Federal Reserve to raise interest rates more aggressively. Central bankers have opened the door to a half-percentage point increase in interest rates in May.
Earnings highlights:
Events to watch this week:
Some of the main moves in markets:
