By Staff Reporters
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Equity indices are in line for a slightly softer open, though bulls should not be too disheartened. It has been a feature of recent sessions, where in the early going stocks were struggling to hold their ground but eventually gave way to further gains as buyers took firm control.
Such underlying momentum has helped the S&P 500 climb 17.2% from its 2022 low touched in mid June, bolstered by hopes that a peak in inflation will allow the Federal Reserve to be less aggressive in hiking borrowing costs.
Poor economic data from China and a miserable survey of U.S. east coast manufacturing released at the start of the week may also provide the Fed with a reason to adopt a less hawkish stance. Consequently, some of the current session's caution may reflect wariness ahead of a further update on Fed thinking due Wednesday, when the central bank releases the minutes of its latest monetary policy meeting. The U.S. 10-year Treasury yield is TMUBMUSD10Y, 2.801% up 1.2 basis points to 2.799%.
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FINANCE: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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