Inflation fears gripped Wall Street as Ed Yardeni anticipated an imminent policy shift, noting that recent CPI and PPI data suggest the Fed is currently "behind the curve" on inflation. He expects the central bank to completely drop its easing stance and adopt a "tightening bias" at its upcoming June meeting, followed by a 25-basis-point rate hike in July.
Meanwhile, the 10-year Treasury bond yielded 4.60%, and the two-year bond was at 4.06%. The CME Group's FedWatch tool‘s projections show markets pricing a 98.8% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
Index
Performance (+/-)
Dow Jones
-0.02%
S&P 500
-0.13%
Nasdaq 100
-0.24%
Russell 2000
-0.09%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Tuesday. The SPY was down 0.16% at $737.49, while the QQQ was lower by 0.36% to $703.35.
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Benzinga’s Edge Stock Rankings indicate that XP maintains a weak price trend in the long term, short, and medium terms, with a solid value score.
Akamai Technologies
Akamai Technologies Inc. (NASDAQ:AKAM) declined 2.50% after announcing plans to commence a $1.3 billion senior notes offering.
Benzinga’s Edge Stock Rankings indicate that AKAM ...
