China Stimulus Ups Stocks Despite Price Warnings: Markets Wrap – Yahoo Finance

(Bloomberg) – The stock market saw another session of mild movement as traders hesitated to make significant bets ahead of key inflation data that will help shape the outlook for the Federal Reserve’s next moves.

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With less than 24 hours to go until the release of the June consumer price index, the S&P 500 has been fluctuating and trading near 4,400. Two-year government bond yields, which are more sensitive to impending Fed decisions, rose while remaining well below the 5% threshold. The dollar changed little.

“I expect it to be a quieter day,” said Alex Coffey, senior trading strategist at TD Ameritrade. “Now that we’re at such a fork in the road, it seems, where we still have the Fed fighting inflation, inflation is showing signs of moderation. It could go either way: we’re either going to navigate this soft landing and everything will be fine, or we’re not going, and we’re going to start to see things showing signs of going downhill.”

In company news, Amazon.com Inc. recovered. after a 2% drop on Monday as the company stepped down from its annual Prime Day event. JPMorgan Chase & Co. rose after being raised to buy off the hold at Jefferies. Uber Technologies Inc. Chief Financial Officer Nelson Chai plans to leave the ride-hailing business, according to people familiar with the matter.

Main events this week:

• Canada tariff decision, Wednesday

• Bank of England Governor Andrew Bailey speaks on Wednesday

• US CPI, Wednesday

• Federal Reserve releases Beige Book on Wednesday

• Fed speakers include Neel Kashkari, Loretta Mester, Raphael Bostic, Wednesday

• Chinese trade, Thursday

• Eurozone industrial production, Thursday

• US first jobless claims, PPI, Thursday

• U.S. University of Michigan Consumer Confidence, Friday

• American banks start with earnings figures on Friday

Some of the major moves in markets:

Shares

• The S&P 500 was little changed as of 9:43 a.m. New York time

• The Nasdaq 100 fell 0.2%

• The Dow Jones Industrial Average rose 0.3%

• The Stoxx Europe 600 rose 0.7%

• The MSCI World index rose 0.3%

Currencies

• The Bloomberg Dollar Spot Index had changed little

• The euro fell 0.2% to $1.0983

• The British pound rose 0.3% to $1.2898

• The Japanese yen rose 0.3% to 140.86 per dollar

Cryptocurrencies

• Bitcoin fell 1.4% to $30,349.17

• Ether fell 1.4% to $1,866.66

Bonds

• The yield on 10-year government bonds was little changed at 4.00%

• The German 10-year yield was little changed at 2.64%

• UK 10-year yields rose by two basis points to 4.66%

Raw materials

• West Texas Intermediate crude rose 0.8% to $73.60 a barrel

• Gold futures rose 0.3% to $1,936 an ounce

This story was created with the help of Bloomberg Automation.

–With assistance from Jason Scott, Tassia Sipahutar, Robert Brand, Carly Wanna, and Vildana Hajric.

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