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Treasury Yields Rise, Tesla Jumps On Cheaper Model Pledge, Yen Plummets To 34-Year Lows: What's Driving Markets Wednesday?

The S&P 500 fell 0.4% in midday trading in New York. The yield on the 30-year Treasury bond has surged to 4.79%, the highest level since early November. The Japanese yen tumbled to the lowest level since June 1990. Tesla Inc. Posted lower-than-expected results last quarter, but shares rose 10%.

All S&P Utility stocks are above 50-day MA, less than 10% of Info Tech names are

Noteworthy ETF Outflows: XLB, SHW, NEM, DOW

Should You Invest in the iShares U.S. Basic Materials ETF (IYM)?

History suggests the materials sector is about to hit a seasonal peak, RenMac says

History suggests the materials sector is about to hit a seasonal peak, Renaissance Macro Research says. The materials group in the US equity market is likely moving toward a peak for the year. The S&P 500 Materials Sector is higher so far in 2024. A presidential election will be held in 2024 and history suggests the sector's performance peaks in the spring.

Tuesday Sector Laggards: Materials, Utilities

Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What's Driving Markets Tuesday?

The S&P 500 rose 1.2% in midday trading on Tuesday, its best performance in over a month. The Nasdaq 100 outperformed the broader market, up 1.5%. Economic data indicated a deceleration in private sector growth in April. Fears for a potential Federal Reserve rate cut by the end of the summer jumped to 72% from 67% on Monday.

Top high growth investment ratio stocks from each sector - GS

Goldman Sachs analysts listed the top stocks in each sector with the highest growth investment ratio. Analysts said they forecast capex and R&D growth to slow from about 10% in 2023 to about 7% in 2024. Growth investment ratio is defined as a company's capex less depreciation plus R&d as a share of its cash flow.