Global stock markets and U.S. futures are mostly lower this morning after Wall Street’s mixed trading day on Wednesday, as investors continue to eye major earnings reports.
In the U.S., bond rates hit their highest levels in a year (1.28% for the 10-year Treasury) on the notion that economic recoveries from the COVID-19 pandemic will drive inflation upward. Yields move opposite of bond prices, so if bond prices go down and hit a one-year low, interest rates will hit a one-year high.
The Department of Labor said Wednesday the Producer Price Index (PPI) jumped 1.3% last month, which is the largest gain it has seen since December 2009. We were expecting a 0.4% increase and instead got a 1.3% bump.
The economy is picking up steam, folks…
In today’s video, I show you which bit of Federal Reserve data is driving the stock market… why this week’s bond market action is so important… why markets appear overbought … which REITs to focus on right now… and the top biotech stock to trade today.
P.S. Legendary trader Jeff Zananiri just told us about a breakthrough trading strategy so powerful, he has already used it to signal 20%, 30%, even 50% winners overnight…
Every day of the week.
How does he do it? By simply buying certain stocks right at the market’s close and then selling them again the next morning.
We almost didn’t believe Jeff when he told us about his overnight strategy, but then we started digging into the 3 p.m. EST stock market phenomena that Jeff calls a Burn Notice.
Spot a Burn Notice at the end of the trading day — and you could end up grabbing double-digit returns the very next morning.