Stock market today: Wall Street drifts, yields jump and Paris stocks soar as elections drive markets
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U.S. stocks drifted to a mixed close, and yields jumped as elections drive swings in financial markets worldwide. The S&P 500 rose 0.3%, the Dow Jones Industrial Average edged up by 50 points, and the Nasdaq composite gained 0.8%. The CAC 40 index in Paris jumped as much as 2.8% before settling to a gain of 1.1% as results from France suggested a far-right political party may not win a decisive majority in the country’s legislative elections. Treasury yields jumped, with the yield on the 10-year Treasury climbing to 4.46% from 4.39%. The bond market was home to some of U.S. markets’ strongest action. Hopes for rate cuts held after a report showed U.S. last month by more than economists expected. The U.S. government will release the June employment report on Friday. Chewy swung from a big early gain to a loss of 6.6% after a trader named Keith Gill revealed he owned just over 9 million shares of the pet supply company. Spirit AeroSystems rose 3.3% after Boeing said it would buy the maker of fuselages and other airplane parts for $4.7 billion in stock. Meta Platforms edged 0.1% higher after European Union regulators accused it of breaching the bloc’s new digital competition rulebook. In stock markets abroad, Japan’s Nikkei 225 added 0.1% after a by the Bank of Japan called the “tankan” showed a modest improvement in confidence among the country’s largest manufacturers. Stocks in Shanghai rose 0.9% following mixed economic data.

#StockMarket #Elections #Yields #ParisStocks

https://apnews.com/article/stock-markets-pmi-tankan-euro-d770743b4d78149fb81a743cd684711a