{"id":12270,"date":"2022-06-22T03:52:36","date_gmt":"2022-06-22T03:52:36","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=12270"},"modified":"2022-06-22T03:52:36","modified_gmt":"2022-06-22T03:52:36","slug":"after-a-recent-pullback-us-stocks-are-up-2","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/after-a-recent-pullback-us-stocks-are-up-2\/","title":{"rendered":"After a recent pullback, US stocks are up 2%"},"content":{"rendered":"<h1><strong>After a recent pullback, US stocks are up 2%<\/strong><\/h1>\n<p>Following a recent selloff, global market indices rose dramatically on Tuesday, with major U.S. stock indexes each closing the day up more than 2%, while the Japanese yen sank to its lowest level since October 1998 against the US dollar. As investors returned from a long weekend, <a href=\"https:\/\/www.xtrememarkets.com\/mu\/stocks-category\/\"><strong>Wall Street<\/strong><\/a> gained, with buyers snapping up shares of megacap growth and energy businesses hammered by global economic concerns last week.<\/p>\n<p>With the rise in oil prices, energy stocks have risen as well. Summer fuel demand drove up oil prices. &#8220;You&#8217;ve pushed the ball under the water deep enough now that we&#8217;re getting a bounce,&#8221; said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago, after back-to-back weeks of 5% drops. However, according to Nolte, &#8220;Interest rates are continuing to rise. The price of oil continues to rise.&#8221; Investors have been on edge due to expectations of interest rate hikes from major central banks and concerns about a worldwide recession. To confront high inflation, central banks are expected to tighten policy.<\/p>\n<p>The Dow Jones Industrial Average increased by 641.47 points, or 2.15 percent, to 30,530.25; the S&amp;P 500 increased by 89.95 points, or 2.45 percent, to 3,764.79; and the NASDAQ Composite increased by 270.95 points, or 2.51 percent, to 11,069.30. The pan-European STOXX 600 index increased 0.35 percent, while MSCI&#8217;s global stock index increased 1.83 percent.<\/p>\n<p>The risk-off mindset that dragged on US markets last week has subsided, resulting in higher Treasury yields. Benchmark 10-year rates were at 3.305 percent, up from the previous week&#8217;s finish of 3.239 percent. For signals on rates, all eyes are on Fed Chair Jerome Powell&#8217;s hearing to the Senate Banking Committee on Wednesday. Goldman Sachs (NYSE:GS) now believes there is a 30% risk that the US economy would enter a recession in the coming year, up from its previous estimate of 15%.<\/p>\n<p>In the foreign exchange market, the Japanese yen fell to 136.330 per dollar against the US dollar. Fumio Kishida, Japan&#8217;s prime minister, said the central bank should keep its current ultra-loose monetary policy. This distinguishes it from other major central banks. Brent crude futures increased by 52 cents, or 0.5 percent, to $114.65 a barrel. The July West Texas Intermediate (WTI) crude contract in the United States ended on Tuesday, finishing at $110.65, up $1.09, or 1%. At $109.52, the more active August contract was up $1.53. Gold fell 0.3 percent to $1,832.27 an ounce on the spot market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a recent pullback, US stocks are up 2% Following a recent selloff, global market indices rose dramatically on Tuesday, with major U.S. stock indexes each closing the day up more than 2%, while the Japanese yen sank to its lowest level since October 1998 against the US dollar. As investors returned from a long<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/MU\/after-a-recent-pullback-us-stocks-are-up-2\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[38,39,56,57,157,55,148,164,263,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>After a recent pullback, US stocks are up 2% | Xtream markets<\/title>\r\n<meta name=\"description\" content=\"Following a recent selloff, global market indices rose dramatically, with major U.S. stock indexes each closing the day up more than 2%\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/after-a-recent-pullback-us-stocks-are-up-2\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" 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