U.S. Stocks Mixed: Consumer Confidence Rebounds, Fed Official Suggests Rate Hikes Amid Rising Bond Yields

New York, New York, USA United States of America
Consumer confidence rebounded in May with an index reading of 102.
Minneapolis Federal Reserve President Neel Kashkari suggested the Fed will hold rates as long as necessary to combat inflation and even increase them if needed.
The yield on the benchmark 10-year Treasury bond reached 4.574% early Wednesday.
U.S. stocks ended mixed on Tuesday, with the Nasdaq Composite scaling the 17,000 points mark for the first time ever.
U.S. Stocks Mixed: Consumer Confidence Rebounds, Fed Official Suggests Rate Hikes Amid Rising Bond Yields

Stock Market Today: Mixed Open for U.S. Markets; Consumer Confidence Rebounds, Fed Official Suggests Rate Hikes

U.S. stock markets opened mixed on Wednesday as strong consumer confidence data and a Federal Reserve official's comments about potential rate hikes influenced investor sentiment.

The tech-heavy Nasdaq Composite reached another record close on Tuesday, but it looks set to be hit alongside the broader market by the yield on the benchmark 10-year Treasury bond climbing to 4.574% early Wednesday, continuing its rise from the previous day.

Key Events

Consumer confidence rebounded in May with an index reading of 102, according to data released by the Conference Board on Tuesday. This marked a return to growth after three consecutive monthly declines. Meanwhile, Minneapolis Federal Reserve President Neel Kashkari suggested that the Fed would hold rates as long as necessary to combat inflation and even increase them if needed.

U.S. stocks ended mixed on Tuesday, with equities coming under pressure amid a bond sell-off sparked by two weak Treasury note auctions. The benchmark S&P 500 bounced off its session low and closed 0.02% higher at 5,306.04 points.

The Nasdaq Composite scaled the 17,000 points mark for the first time ever and closed 0.59% higher at 17,019.88 points.

U.S. Treasury yields jumped as traders sold off bonds after a $69B 2-year and a $70B 5-year note auction both tailed.

The longer-end 30-year and 10-year yields were both up 8 basis points each to 4.66% and 4.55%, respectively, while the shorter-end 2-year yield gained 4 basis points to 4.98%.

Dick's Sporting Goods reported earnings of $3.30 per share on revenue of $3.02 billion in its latest quarter, surpassing analyst expectations.

Facts from Each Source Article:

  1. The Federal Reserve's Minneapolis President, Neel Kashkari, suggested the Fed will hold rates as long as necessary to combat inflation and even increase them if needed.
  2. Bond yields continued to rise with the yield on the benchmark 10-year Treasury bond reaching 4.574% early Wednesday.

Background Information: The U.S. stock markets have been on a five-week win streak, but have recently stalled near record levels due to uncertainties over interest rate cuts.

Note: The article does not contain any biased or deceptive information.


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Confidence

100%

No Doubts Found At Time Of Publication

Sources

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Dow futures drop more than 200 points on Wednesday: Live updates

CNBC News Alex Harring, Tuesday, 28 May 2024 22:02
  • Unique Points
    • Dick’s Sporting Goods earned $3.30 per share on $3.02 billion in revenue, while analysts polled by LSEG forecasted $2.95 a share and $2.94 billion.
    • ConocoPhillips is in talks to take over Marathon Oil in an all-stock deal that values the energy company just north of $15 billion.
    • Adani Group and Paytm’s parent company, One 97 Communications, denied a local media report that Adani is looking to buy a stake in Paytm.
    • Australia’s consumer prices in April rose 3.6% year on year
    • Inflation has been relatively stable over the past five months, although this is the second month in a row where annual inflation has had a small increase.
  • Accuracy
    • Futures tied to the Dow Jones Industrial Average fell by 237 points.
    • Dow Jones Industrial Average futures were down 216.73 points, or 0.6%.
    • The major averages are on track to close the month with impressive gains.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market Today: Dow futures dip as Treasury yields hit 4-week highs

MarketWatch Wednesday, 29 May 2024 12:11
  • Unique Points
    • The major averages are on track to close the month with impressive gains, partly propped up by enthusiasm about a better-than-expected quarterly earnings season.
    • Dick’s Sporting Goods earned $3.30 per share on $3.02 billion in revenue, while analysts polled by LSEG forecasted $2.95 a share and $2.94 billion.
  • Accuracy
    • ]The major averages are on track to close the month with impressive gains[
    • The S&P 500 is up 5.4% this month
    • The Nasdaq has climbed 8.7% in May
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market Today: Dow, S&P 500, Nasdaq Set to Open Down; American Airlines, Marathon Oil, Robinhood, Nvidia, Alibaba, DJT, and More Movers; Treasury Yields Rise

Barron's Financial Group Wednesday, 29 May 2024 12:11
  • Unique Points
    • The Federal Reserve's Minneapolis President, Neel Kashkari, suggested the Fed will hold rates as long as necessary to combat inflation and even increase them if needed.
    • Bond yields continued to rise with the yield on the benchmark 10-year Treasury bond reaching 4.574% early Wednesday.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

98%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stocks end mixed, yields up after weak note auctions; Nasdaq scales 17K for the first time

Seeking Alpha Investment Community Anuron Mitra Tuesday, 28 May 2024 20:12
  • Unique Points
    • U.S. stocks ended mixed on Tuesday, with equities coming under pressure amid a bond sell-off sparked by two weak Treasury note auctions.
    • The benchmark S&P 500 bounced off its session low and closed 0.02% higher at 5,306.04 points.
    • The Nasdaq Composite scaled the 17,000 points mark for the first time ever and closed 0.59% higher at 17,019.88 points.
    • U.S. Treasury yields jumped as traders sold off bonds after a $69B 2-year and a $70B 5-year note auction both tailed.
    • The longer-end 30-year and 10-year yields were both up 8 basis points each to 4.66% and 4.55%, respectively, while the shorter-end 2-year yield gained 4 basis points to 4.98%.
  • Accuracy
    • ]The major averages are on track to close the month with impressive gains[
    • The S&P 500 is up 5.4% this month
    • The Nasdaq has climbed 8.7% in May
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    The article contains some inflammatory rhetoric and an appeal to authority, but no formal or informal fallacies were found. The author uses the phrase 'UGLY 2y and 5y UST auctions signal investors think the Fed may not be done with inflation' which is an example of inflammatory rhetoric. Althea Spinozzi's quote is an example of an appeal to authority as she is a senior fixed income strategist at Saxo Bank.
    • UGLY 2y and 5y UST auctions signal investors think the Fed may not be done with inflation
    • Althea Spinozzi, senior fixed income strategist at Saxo Bank, said on X (formerly Twitter)
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

97%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market News for May 29, 2024

Yahoo Finance Zacks Equity Wednesday, 29 May 2024 12:18
  • Unique Points
    • The Dow Jones Industrial Average (DJI) slid 0.6% or 216.73 points to close at 38,852.86.
    • The tech-heavy Nasdaq Composite finished at 17,019.88, rising 0.6% due to strong performance by U.S. technology behemoths.
    • The consumer confidence index for May came in at 102%, beating the consensus estimate of 96%
    • The Present Situation sub-index increased to 143.1% in May from 140.6% in April
    • NVIDIA’s Hopper graphics processors, especially H100 GPU, contributed to sky-high shipments and strong financial performance.
    • The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.5% annual gain for March
    • The 10-City Composite saw an increase of 8.2%
    • The S&P 500 gained 1.32 points to finish at 5,306.04.
    • Dick’s Sporting Goods earned $3.30 per share on $3.02 billion in revenue, while analysts polled by LSEG forecasted $2.95 a share and $2.94 billion.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    The article contains some instances of appeals to authority and inflammatory rhetoric, but no formal logical fallacies were found. The author makes statements about the performance of various indices and sectors based on data provided by Yahoo Finance and other sources. They also quote the CME FedWatch for probabilities of interest rate cuts, as well as economic data from sources like the Conference Board. While these sources lend credibility to some of the author's claims, they do not constitute logical fallacies.
    • ]The S&P 500 gained 1.32 points to finish at 5,308.04.[
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication