Stocks rebounded and Treasury yields turned lower after the Federal Reserve left its key lending rate range unrevised and signaled several rate cuts next year.
Stock market indexes edged higher, and investors awaited the Fed's rate decision later in the day. Investors are looking forward to gaining deeper insights into how policymakers think about future rate paths, the inner workings of the economy, and labor market conditions.
European markets edged slightly higher ahead of the rate decisions from the European Central Bank, the Federal Reserve, and the Bank of England. UK GDP unexpectedly contracted in October amid declines in manufacturing, construction, and services.
Stocks advanced and crude oil prices dropped after the latest inflation report showed a cooling trend in November. Rising crude oil supplies in the global markets from the U.S., Canada, Brazil, and Guyana also weighed on market sentiment.
Stocks advanced after the release of the consumer price inflation report. Overall inflation eased in November, but core inflation held steady at a rate significantly higher than the target rate set by the central bank.
Market indexes rested ahead of the release of inflation reports and the Federal Reserve's rate decision and economic and inflation forecast. European markets traded near recent highs, and market indexes in China struggled after the worries of deflation gripped market sentiment.
The U.S. economy added jobs at a faster pace in November, and wage gains were in line with expectations. 10-year Treasury yield jumped on the worries that the labor markets are tighter than previously estimated.
Benchmark indexes halted a three-day losing streak, and chip makers and big tech stocks led the gainers. Treasury yields retained a downward bias ahead of the release of nonfarm payrolls report on Friday.
Market indexes lacked direction in early trading, and investors appeared exhausted after stocks rallied for five weeks in a row. Investors remained focused on the labor market, and expectations ran high that the nonfarm employment report would confirm the cooling trend.
Treasury yields and crude oil prices declined after the latest jobs report showed a cooling trend. Crude oil prices fell to five-month lows. The U.S. trade gap widened slightly in October after exports fell and imports rose.
Stocks lacked direction in early trading, and investors focused on the latest updates on the job market and awaited the release of the nonfarm payrolls report.
Market indexes paused for the second day in a row, and the yield on Treasury bonds drifted lower as investors debated the direction of interest rates over the next few months.
Benchmark indexes declined Monday after tech and high-growth stocks were under pressure following worries about stretched valuations. Factory orders declined in October after transportation orders plunged.
