(Bloomberg) — Another report showing the US economy entered the trade war on solid footing pushed stocks away from session lows, while bond yields rose amid speculation the Federal Reserve will stay on hold this week.<\/p>\n
Most Read from Bloomberg<\/p>\n
A rebound in industrial shares helped the S&P 500 erase most of a slide that earlier approached 1%. Data showing a pick-up in growth at US service providers helped assuage concerns of a recession even as the outcome of President Donald Trump\u2019s trade war has yet to be felt. In fact, the same report showed a jump in materials prices – signaling potential inflation pressures.<\/p>\n
Attention will soon shift to Wednesday\u2019s Fed decision after bond traders dialed back rate-cut bets that had steadily mounted as Trump\u2019s trade war unleashed havoc in financial markets.<\/p>\n
Subscribe to the Stock Movers Podcast on Apple, Spotify and other Podcast Platforms.<\/p>\n
As long as the economy holds firm, the central bank can more easily justify the standing pat. While Jerome Powell and his colleagues would typically welcome the latest inflation cooling, higher US duties on imports risk upending the progress on that front.<\/p>\n
\u201cUncertainty rules amid a trade war and the ever-changing landscape of tariffs, but with the hard data on consumer spending and employment still hanging in there, the Fed will remain firmly planted on the sidelines,\u201d said Greg McBride at Bankrate.<\/p>\n
The S&P 500 fell 0.2%. The Nasdaq 100 slid 0.3%. The Dow Jones Industrial Average added 0.2%. The yield on 10-year Treasuries rose four basis points to 4.35%. The Bloomberg Dollar Spot Index fell 0.2%.<\/p>\n
Oil sank as OPEC+ agreed to a bumper output increase. Taiwan\u2019s dollar surged the most since 1988 on bets authorities might allow it to appreciate to help reach a trade deal with the US.<\/p>\n
Corporate Highlights:<\/p>\n
Palantir Technologies Inc. investors have been betting that the results coming after the markets close on Monday will be another blowout, but the recent run up has given the stock a high bar to clear.<\/p>\n<\/li>\n
Berkshire Hathaway Inc. followed Chief Executive Officer Warren Buffett\u2019s recommendation, naming Vice Chairman Greg Abel to replace the billionaire as CEO, effective Jan. 1.<\/p>\n<\/li>\n
Tyson Foods Inc.\u2019s earnings jumped more than expected as increased profits from chicken sales outweighed another quarter of losses at the company\u2019s beef business.<\/p>\n<\/li>\n
Shell Plc is working with advisers to evaluate a potential acquisition of BP Plc, though it\u2019s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter.<\/p>\n<\/li>\n
Sunoco LP agreed to acquire Parkland Corp., one of the largest owners of gas stations in Canada, for about $9.1 billion including debt.<\/p>\n<\/li>\n
Investment firm 3G Capital will acquire footwear maker Skechers USA Inc. for $9.4 billion.<\/p>\n<\/li>\n<\/ul>\n
Story Continues <\/p>\n
Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
The S&P 500 fell 0.2% as of 12:46 p.m. New York time<\/p>\n<\/li>\n
The Nasdaq 100 fell 0.3%<\/p>\n<\/li>\n
The Dow Jones Industrial Average rose 0.2%<\/p>\n<\/li>\n
The MSCI World Index fell 0.2%<\/p>\n<\/li>\n
Bloomberg Magnificent 7 Total Return Index fell 0.7%<\/p>\n<\/li>\n
The Russell 2000 Index fell 0.2%<\/p>\n<\/li>\n<\/ul>\n
Currencies<\/p>\n
The Bloomberg Dollar Spot Index fell 0.2%<\/p>\n<\/li>\n
The euro was little changed at $1.1306<\/p>\n<\/li>\n
The British pound was little changed at $1.3276<\/p>\n<\/li>\n
The Japanese yen rose 0.6% to 144.15 per dollar<\/p>\n<\/li>\n<\/ul>\n
Cryptocurrencies<\/p>\n
Bitcoin fell 1.6% to $94,233.31<\/p>\n<\/li>\n
Ether fell 1.4% to $1,810.09<\/p>\n<\/li>\n<\/ul>\n
Bonds<\/p>\n
The yield on 10-year Treasuries advanced four basis points to 4.35%<\/p>\n<\/li>\n
Germany\u2019s 10-year yield declined two basis points to 2.52%<\/p>\n<\/li>\n
Britain\u2019s 10-year yield advanced three basis points to 4.51%<\/p>\n<\/li>\n<\/ul>\n
Commodities<\/p>\n
West Texas Intermediate crude fell 2.2% to $57.03 a barrel<\/p>\n<\/li>\n
Spot gold rose 2.2% to $3,312.53 an ounce<\/p>\n<\/li>\n<\/ul>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Another report showing the US economy entered the trade war on solid footing pushed stocks away…\n","protected":false},"author":2,"featured_media":77014,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[18008,3662,51,7372,37863,17178,2441,1219,16,15],"class_list":{"0":"post-77013","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-basis-points","9":"tag-bloomberg","10":"tag-business","11":"tag-federal-reserve","12":"tag-inflation-pressures","13":"tag-jerome-powell","14":"tag-markets","15":"tag-trade-war","16":"tag-uk","17":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114456422126715143","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/77013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=77013"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/77013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/77014"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=77013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=77013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=77013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}