Posted 4/4/2024, 6:22:40 PM
Stocks Rally, Bonds Surge on Rate Cut Hopes; Jobless Claims Rise
- Markets opened higher after Fed Chair Jerome Powell signaled potential rate cuts later this year
- Bond yields declined and the iShares 20+ Year Treasury Bond ETF (TLT) jumped after Powell's comments
- Jobless claims rose more than expected last week, signaling a weakening labor market
- Nonfarm payrolls data coming Friday provides critical info on the health of the jobs market
- The Direxion Daily Semiconductor Bear 3X Shares ETF (SOXS) extended losses as chip production in Taiwan continues to be impacted from the earthquake