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17 Jan 2022
Stocks and Futures Remain Mixed as Bond Yields Expect March Soar
The Index Today
Stocks and futures proved mixed on Monday as the focus shifts to a possible spike in bond yields that is expected for the month of March.
While shares in Japan and China inched up, the ones in Hong Kong faced a drop. Nasdaq 100 and S&P 500 futures plummeted, while the dollar and European contracts soared. Post the U.S. Treasuries drop on Friday, bond yields in New Zealand and Australia experienced a surge.
As earnings season takes up the spotlight with the report on the financial sector due this week, tech and growth stocks are hoping to recover following rough starts this year in the backdrop of aggressive Fed-sanctioned interest rate hikes, China’s policies, and the spread of Omicron.
According to Julian Emmanuel of Evercore ISI, “Given the record inflation backdrop and historically tight labor market, investor focus is on margins — demonstrating pricing power, passing on rising costs to the customer.”
©Photo: NYSE
