Edition:
United States

Chuck Mikolajczak

S&P, Nasdaq close higher on vaccine hopes, improving data

Jul 01 2020

NEW YORK The S&P 500 and Nasdaq indexes closed higher on Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely. | Video

US STOCKS-S&P, Nasdaq close higher on vaccine hopes, improving data

Jul 01 2020

* Early positive results for Pfizer, BioNTech vaccine candidate

US STOCKS-Vaccine optimism, improving data lift Wall Street

Jul 01 2020

* Early positive results for Pfizer, BioNTech vaccine candidate

S&P 500 ends best quarter since 1998 on a high note

Jun 30 2020

NEW YORK The S&P 500 rallied on Tuesday to finish higher and secure its biggest quarterly percentage gain in more than two decades as improving economic data bolstered investor beliefs that a stimulus-backed rebound for the U.S. economy was on the horizon. | Video

US STOCKS-S&P 500 ends best quarter since 1998 on a high note

Jun 30 2020

* Uber up on reports of potential bid for Postmates (Updates to market close)

US STOCKS-S&P 500 poised for best quarter since 1998; Boeing weighs on Dow

Jun 30 2020

* Dow down 0.14%, S&P 500 up 0.68%, Nasdaq up 1.10% (Updates to midafternoon, changes byline)

Wall Street ends higher on Boeing bump, stimulus eyed

Jun 29 2020

NEW YORK Wall Street stocks closed higher on Monday and the S&P 500 was poised to clinch its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound, while a surge in Boeing shares helped boost the blue-chip Dow. | Video

US STOCKS-Wall St ends higher on Boeing bump, stimulus eyed

Jun 29 2020

* Gilead announces remdesivir pricing (Updates to market close)

US STOCKS-Wall St gains on Boeing bump, remdesivir hopes

Jun 29 2020

* Dow up 1.92%, S&P 500 up 1.19%, Nasdaq up 0.92% (Updates to mid-afternoon, changes byline)

TREASURIES-Yields slip as COVID-19 rise clouds economic view

Jun 25 2020

(Updates with market activity, analyst comment, auction result) By Ross Kerber and Chuck Mikolajczak June 25 U.S. Treasury yields dipped on Thursday, but were off earlier lows as traders weighed signs of a resurgence in the coronavirus against a round of economic data suggesting the worst of the lockdown-induced damage could be over. The yield on the benchmark 10-year note was down 1.2 basis points at 0.6724%, and off its earlier low of 0.656%. The trading followed a similar pattern on Wednesday and brought the note's yield far below its monthly high of 0.959% reached on June 5. Initial claims for state unemployment benefits totaled a seasonally adjusted 1.48 million for the week ended June 20, down from 1.54 million in the prior week, the Labor Department said on Thursday, but still a large number, buttressing views the labor market could take years to recover. But a separate report for orders of U.S.-made capital goods rose more than anticipated, while the final reading of gross domestic product for the first quarter was as anticipated, showing a contraction of 5%. "Once we got the data, the market kind of stabilized and bonds started selling off a bit price-wise, going a little higher in yield," said Tom di Galoma, managing director at Seaport Global Holdings in New York. "However, the virus kicking in again is definitely worrisome for markets," he said. Texas Governor Greg Abbott said on Thursday he was halting his state's phased economic reopening in response to a jump in COVID-19 infections and hospitalizations, as the number of new daily cases around the country climbed to a near-record high. The announcement came after several states on Wednesday ordered new quarantines for some travelers, Walt Disney Co delayed the reopening of its theme parks, and Nevada's governor signed a directive requiring face coverings in casinos and all other public places. A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at 49 basis points, roughly unchanged since Wednesday. The 2-year note, which typically moves in step with interest rate expectations, last yielded 0.1837%, down less than a basis point. Results from a Treasury Department auction of $41 billion of seven-year notes on Thursday showed good demand, with non-dealers accounting for 78.3% of accepted bids, versus an average of 76.7%, according to a note from BMO Capital Markets. June 25 Thursday 2:47PM New York / 1847 GMT Price Current Net Yield % Change (bps) Three-month bills 0.14 0.142 -0.010 Six-month bills 0.17 0.1725 0.002 Two-year note 99-226/256 0.1837 -0.004 Three-year note 100-32/256 0.2078 0.000 Five-year note 99-160/256 0.3257 -0.004 Seven-year note 99-236/256 0.5115 -0.007 10-year note 99-140/256 0.6724 -0.012 20-year bond 98-248/256 1.1833 -0.024 30-year bond 96-8/256 1.4133 -0.033 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 6.75 0.50 spread U.S. 3-year dollar swap 5.25 0.50 spread U.S. 5-year dollar swap 3.50 -0.75 spread U.S. 10-year dollar swap -1.25 0.25 spread U.S. 30-year dollar swap -48.75 -0.25 spread (Reporting by Ross Kerber in Boston and by Chuck Mikolajczak in New York; Editing by Andrea Ricci and Jonathan Oatis)

World News