The S&P 500 appeared to fall for a sixth straight day for its longest losing streak since February 2020 The Nasdaq was on track to extend its losses after its worst session of the month, as investors shrank Hijacking Growth and Tech Shares Shares of airlines, cruise lines, accommodation companies and other service recipients of a post-pandemic economic reopening added to Monday’s gains, and the sectors cyclicals, notably energy and financials, were on the verge of outperforming again

Optimism over another round of fiscal stimulus to help prop up the economy has helped boost corporate actions that have helped a strong economic reopening The US House of Representatives budget committee has voted to advance President Joe Biden’s $ 9 trillion virus relief proposal on Monday, bringing him closer to crossing a cliff face in mid-March, after which federal unemployment benefits approved as part of the latest relief round in December should expire

This week, investors are eyeing a sharp rise in treasury bill yields, raising fears of skyrocketing rates and borrowing costs for businesses and inflationary pressures across the economy The benchmark 10-year yield hovered around 136% for its highest level in a year, after wallowing below 1% for most of 2020

That said, rising government bond yields and a sloping yield curve – with longer-term yields rising faster than those at the shorter end of the curve – are also typical features of the curve. ‘an economic recovery

“I think the surge in bond yields is expected as we have the prospect of very strong economic growth in the US You have seen other indicators of economic activity being very strong, for example commodities are on a real tear since last summer Bond yields reflect stronger economic growth, ”Ernesto Ramos, chief investment officer of BMO Global Asset Management, told Yahoo Finance on Monday

“Consensus estimates maybe 6-7% growth [of GDP] for 2021 You see the vaccine rollout is improving a lot and really starting to hit and make a difference So there are a lot of signs reopening, and economic growth will reflect that and, therefore, bond yields must reflect stronger economic growth, and that’s why they have moved up, ”he added. “They’ve grown pretty quickly, but they’ve really started to improve since July, going from 60 basis points until we are today at 135”

“We are coming off a very good 3 month run for US stocks and will now face the less welcome headlines of a typical economic recovery This includes rising long term interest rates and prices of the oil, “DataTrek co-founder Nicholas Colas wrote in a recent note. “Yes, it’s only natural to see them increase, but that doesn’t mean stocks get a free pass while they do.”

Federal Reserve Chairman Jerome Powell is due to deliver his biannual testimony on monetary policy to the Senate Banking Committee on Tuesday, offering a further update on his take on the way forward for policy monetary during and after the pandemic The Federal Reserve has so far signaled that benchmark interest rates will remain close to zero at least until 2023 and that its current program of asset purchases at a rate of $ 120 billion per month will continue. until further progress is made in economic recovery

Home Depot (HD) shares fell more than 25% at the start of trading after the company declined to offer a forecast for this year after a record year of skyrocketing sales in 2020, as customers have turned to the company en masse for home improvement projects during the pandemic

“As we look to Fiscal 2021, although we are unable to predict how consumer spending will evolve, if the demand environment in the second half of Fiscal 2020 expected to persist into fiscal 2021, this would imply stable to slightly positive comparable sales growth and operating margin of at least 14%, ”CFO Richard McPhail said in a statement

Comparable sales soared 245% in the fourth quarter, up from 5 last year Growth rate of 2% and higher estimates for 191% growth Earnings of $ 2 65 per share also increased in over $ 2.28 posted last year

Lucid Motors and Blank Checks Company Churchill Capital IV (CCIV) Confirmed Merger Agreement To Take California-Based Electric Vehicle Company Public Shares of Churchill Capital Down About 30 % in pre-market

Stocks fell on Monday as commodity prices rallied as higher Treasury bill yields and higher inflation expectations weighed on stock prices

(Bloomberg) – US Equity futures slipped with European stocks on Tuesday as rising bond yields and commodity prices continued to hammer tech stocks Nasdaq futures fell 16% by day after the high-tech gauge posted its longest losing streak in four months Tesla Inc fell 6% in pre-market trading as investors continued to punish stocks that led the rally from the depths of pandemic a year ago In Europe, tech stocks pushed down the Stoxx 600 Index Bets on nascent inflation boosted by global economic recovery put pressure on equities T-bills stabilized on Tuesday after the Spread between 5- and 30-year yields peaked in more than six years Copper extended gains, while WTI crude rose to $ 63 a barrel One concern among investors is that broad benchmarks have already factored in much of the potential global recovery spurred by vaccines and US stimulus Along with rising inflation, another is that central banks could eventually start reconsidering emergency programs that have supported global markets Traders are waiting to hear Federal Reserve Chairman Jerome Powell when he testifies before the Senate Banking Committee on Tuesday and the House Financial Services Group on Tuesday. next day Expected to minimize inflation risk despite President Joe Biden’s dollar size 9 Trillion coronavirus relief proposal “Fed Chairman Jay Powell will be torn today,” wrote ING analysts led by Padhraic Garvey in a note “A little inflation is a good thing; this is what the Fed wanted But too much anticipation is not good, as it tightens policy prematurely “Elsewhere, Bitcoin has retreated below $ 50,000 after a bout of volatility highlighted lingering doubts on the sustainability of the token rallySome key events to watch this week: Fed Chairman Jerome Powell presents the central bank’s semi-annual monetary policy report to the Senate Banking Committee on Tuesday The EIA’s crude oil inventory report is released on Wednesday Group of 20 finance ministers and central bankers to meet virtually Friday US Treasury Secretary Janet Yellen will be among the attendees Here are some of the major moves in the markets: Stocks The future of the S&P 500 index has fallen by 05 % from 6:55 a.m. New York time Stoxx Europe 600 index fell 1% MSCI Asia Pacific index gained 02% MSCI Emerging Market index was little changed Bloomberg Dollar Spot index little Euro changed little to $ 1 2154 British pound jumped 02% to $ 1 4095 Land yuan changed little to 6464 per dollar Japanese yen weakened 02% to 10,524 per dollar Bonds The yield on Tré bills 10-year sor gained less than a basis point to 137% The yield on two-year Treasury bills fell by less than a basis point to 011% Germany’s 10-year yield rose by four basis points to -030% UK 10-year yield rose four basis points to 0717% Japan’s 10-year yield was unchanged at 0125% West Texas Intermediate crude gained 06% to $ 62 10 a barrel crude broke rose 06% to $ 65 63 a barrel Gold changed little at $ 1809 06 an ounce For more articles like this please visit us at Bloomberg Subscribe now to stay ahead with news source most trusted business © 2021 Bloomberg LP

Americans stranded at home bought tools, paint and building materials throughout the COVID-19 health crisis, but vaccine rollouts and hopes for a normal life have led many to believe that demand in 2021 will fade “We are unable to predict the evolution of consumer spending,” said Richard McPhail, CFO of Home Depot Home Depot shares fell 2% in pre-market trading, even after reporting a 24.5% increase in fourth-quarter same-store sales, beating analysts’ average estimate of 18.9% increase, data shows IBES from Refinitiv

Jim Cramer said on Monday it was not too late “to make a big bet” on reopening the shares What Happened: “You are no longer ahead with these names, but this doesn’t mean you’re late either, “CNBC host said” Mad Money. “Cramer’s picks include Walt Disney Co (NYSE: DIS), Marriott International Inc (NASDAQ: MAR), Wynn Resorts, Limited ( NASDAQ: WYNN), Southwest Airlines Co (NYSE: LUV) and Royal Caribbean Cruises Ltd (NYSE: RCL) The former hedge fund manager also predicts an increase in the business of credit card companies such as Visa Inc (NYSE: V ), Mastercard Inc (NYSE: MA) and American Express Company (NYSE: AXP) Other favorites include Estee Lauder Companies Inc (NYSE: EL), Caterpillar Inc (NYSE: CAT), Nucor Corporation (NYSE: NUE) and Simon Property Group Inc (NYSE: SPG) “We all know the day will come, the day we can see the light at the end of the tunnel We knew the r Opening stocks would jump ahead, ”Cramer said Why this matters: The CNBC host urged investors to hang on to the uptrend in economic recovery stocks, but also advised to maintain exposure to growth stocks “It’s not too late to make a big bet on reopening stocks, but don’t forget to avoid some of the top names in downside growth as well.Cramer’s travel sector picks all ended the trading day in green Monday Royal Caribbean closed 933% higher in regular session the same day at $ 86 23 The stock rebound came despite the cruise liner having reported a net loss of $ 5 8 billion in 2020 against income of $ 1 9 billion a year ago See more from BenzingaClick here for Benzinga options tradesFacebook Re-Friends Australia as government amends bill on sharing Bitcoin news income could be tanking, but these Ethereum killers are posting major gains today © 2021 Benzingacom Benzinga Does Not Provide Investment Advice All Rights Reserved

Representative Tom McClintock joins Jessica Smith of Yahoo Finance and the Yahoo Finance Live panel to discuss the latest stimulus news

Jerome Powell is likely to reiterate the Fed’s pro-stimulus stance later today, possibly putting a floor below bitcoin and stocks

‘The reality is that no one knows what the value of this pseudo-asset is It has no value because it has no income, has no use, has no use This is therefore a speculative game on a self-fulfilling bubble, ”says Roubini

The Nasdaq Composite pulls back as higher government bond yields raised concerns that tech stocks appear too expensive

As Bitcoin crosses $ 50,000 mark and Dow hits 30,000, new report from Bank of America and EPFR Global reveals latest market exuberance “may precede correction “,

Buffett recently doubled his energy investments while reducing his tech and banking holdings, and he’s not the only billionaire making big strides in energy in 2021

The Treasury Department said Monday it would change the paycheck protection program rules to get more help for small businesses.For a two-week period starting Wednesday, the program will limit its loans to businesses with 20 or fewer employees President Joe Biden said on Monday the intention was to help mom-and-pop businesses that may not have been able to get government help until present “These small businesses – not the ones with 500 employees, but these small businesses that, with a handful of people, make up 90% of American businesses,” Biden said at a press conference “But when the Paycheck Protection Program was enacted, a lot of these mom-and-pop companies were sidelined by bigger companies who jumped in front of the line.”Established by the Cares Act last March, the PPP offers subsidized loans to help small businesses keep employees on their payroll, and businesses that meet program requirements can have their loans canceled. But some large companies, many of which operate on a franchise model like fast food chains and car dealerships, have also benefited from the PPP, which received $ 953 billion in funding from Congress. In its efforts to funnel money to smaller, more independent businesses, some of which may not have the banking connections and bureaucratic knowledge necessary to get federal aid, the program is also relaxing some of its rules. Self-employed, sole proprietors and independent contractors are now eligible for larger loans, even if they have no employees, and the program is now open to those who are behind on their student loans and to green card holders Bottom line: Due to expire on March 31, PPP still has around $ 140 billion in unclaimed funds, but $ 1 from Biden A 9 trillion relief plan would extend the program The Small Business Administration, which manages the PPP, has said on Monday that small businesses were already starting to receive a larger share of loans and that more relaxed eligibility rules are expected to lead to a new wave of loans in the coming weeks Do you like what you read? Subscribe to our free newsletter

The S&P 500 has recently been in a trend to sell out early in the day to turn around and show signs of strength again

Shares of the company, down 44% last year, climbed 9% in morning trading, as Royal Caribbean said it had seen a 30% increase in new bookings since the start of the year compared to November and December Analysts have also suggested that Royal Caribbean and its peers Carnival Corp and Norwegian Cruise Line Holdings Ltd gradually resume travel during the second half of this year, after the several-month shutdown triggered by the pandemic.

HSBC is set to pull out of US retail banking, a source familiar with the matter told Reuters on Monday, as Europe’s largest bank sought to divest a company that has long underperformed The exit US consumer activities will be part of the lender’s strategy update slated for Tuesday, as chief executive Noel Quinn looks to cut costs, increase commission income, and continue the lender’s transition to the Asia The sale or closure of its approximately 150 remaining branches in the United States, after closing 80 branches last year, would mark the end of HSBC’s struggle to turn around a company that has struggled to win against its national rivals in place

With declining liquidity in the bitcoin market, small transactions can have a relatively large impact on prices

IAG, owner of British Airways, said on Monday it had increased its total cash flow by £ 245bn ($ 3-4bn) by deferring pension contributions and finalizing a loan, which will help it survive longer at the travel crisis “In addition to these arrangements, IAG continues to explore other debt initiatives to further improve its liquidity,” IAG said in a statement

Stock market, s&p 500, Nasdaq

World news – US – Live stock market updates: Stock futures are mixed as technology stocks are under increased pressure

Source: https://finance.yahoo.com/news/stock-market-news-live-updates-february-23-2021-232120081.html