📆 Tuesday, August 22
► Major US indices halted their decline on Monday, with tech stocks rising sharply. The gains in tech were lead by Nvidia, rallying over 8% in anticipation of its upcoming earnings report due tomorrow and a series of positive ratings from investment banks. Stocks in Europe witnessed gains following a rally led by tech giants, mirroring Wall Street's rebound attempt. Major US indices are now trading flat n pre-market trading.
► A resurgence in Chinese shares, especially in the tech sector, propelled Asian market sentiments. Key mainland indexes bounced back from previous oversold conditions, pushing the Asian stock metric up by 1%. Simultaneously, Europe's Stoxx 600 witnessed tech shares leading the charge, with miners benefiting from iron ore's fourth consecutive day of gains.
► Bond yields are in the spotlight with the U.S. 10-year Treasury note yield spiking to its highest since November 2007 at 4.34%, emphasizing the inverse relationship with stock prices. Much focus will be on Federal Reserve Chair Jerome Powell's upcoming speech (on Friday) for insights into the future trajectory of US interest rates.
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