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By Akane Otani
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By Yun Li & Sarah Min
Stocks inch lower as rally attempt on Wall Street falters
By Sarah Min & Pippa Stevens
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Formerly Twitter
Liz Ann Sonders
LizAnnSonders
As of the first quarter this year, ratio of S&P 500’s market cap to nominal GDP spiked to highest since end of 2021 pic.twitter.com/ieovbg0NgG
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Mohamed A. El-Erian
elerianm
Per below, the whole US yield curve shifted up in reaction to the data (see prior post), including the 2-year which traded above 5% as markets pushed to December the expectation of the first rate cut by the #FederalReserve.
(Amazing to think that, just four months ago, #markets… pic.twitter.com/gmZDG1xxGU
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Ryan Detrick, CMT
RyanDetrick
Down less than half a percent today for the S&P 500.
Given where it opened, this was a nice change from what we were seeing a week ago.
Back then, the selling would get heavy as the day wore on.
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Carl Quintanilla
carlquintanilla
This is the best week for the S&P 500 and Nasdaq since November 3rd.
@CNBC @peterschack #SchackAlert 🔥 pic.twitter.com/hlVd6FF8DX
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