U.S. equity futures rose Monday, as traders tried to recover some ground following the worst week of the year on Wall Street.
Stocks sank Friday and Treasury yields jumped following a bigger-than-expected increase in the latest reading forThe early 2023 rally seems to be fading as investors absorb the minutes of the latest Fed meeting, which reiterated the central bank's tough stance on inflation, as well as recent comments from Fed officials cautioning interest rates could rise higher and for longer than anticipated.
Concern over tighter monetary policy and persistent inflation have pushed Treasury yields higher. The 2-year rate on Monday hit its highest level since July 2007. In earnings, just 6% of the S&P 500 will report but investors are looking for insight into the consumer with several major retailers, restaurants, some travel and entertainment names as well as food companies set to report. Target, Costco, Lowe's and Macy's are some of the big names set to report earnings this week.The 2-year yield added to its February gains Monday, reaching 4.8% on the day. That's its highest level since July 2007.
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