Wall Street ended a rally that drove equities to the edge of a record amid worries about an overheated market.
Treasuries lost steam as a weak sale of 30-year bonds signalled fading desire for US debt after a recent surge.
Treasuries lost steam as a weak sale of 30-year bonds signalled fading desire for US debt after a recent surge.
After an almost 30% surge from its April lows, the S&P 500 closed little changed.
A closely observed gauge of chipmakers rose, but Intel declined 3% as Trump called on its chief to resign, citing conflicts of interest.
Eli Lilly slipped 14% after disappointing data on its new weight-loss pill.
Apple continued a two-day surge to about 8.5%.
A closely observed gauge of chipmakers rose, but Intel declined 3% as Trump called on its chief to resign, citing conflicts of interest.
Eli Lilly slipped 14% after disappointing data on its new weight-loss pill.
Apple continued a two-day surge to about 8.5%.
Thursday's $25 bln Treasury sale followed weak results for 3- and 10-Yr debt auctions this week.
Long-end gains slowed, leaving 30-Yr yields little changed at 4.83%.
The yield on 10-yr bonds climbed two basis points to 4.25%.
The dollar barely moved.
Long-end gains slowed, leaving 30-Yr yields little changed at 4.83%.
The yield on 10-yr bonds climbed two basis points to 4.25%.
The dollar barely moved.
Whether or not the blistering rally in US stocks is about to cool, some large businesses have cautioned clients to prepare for a near-term pullback amid sky-high valuations.
Added to bulls' worries is seasonality. August and September have historically been the two worst months for the S&P 500.
Earlier gains in equities were pushed by hopes of a de-escalation of geopolitical risks after Russia said Putin and Trump are finalising details for a meeting.
Stocks were also bolstered by Trump's vow to exempt businesses that move production to the USA after stating plans for a 100% tariff on semiconductor imports.
Added to bulls' worries is seasonality. August and September have historically been the two worst months for the S&P 500.
Earlier gains in equities were pushed by hopes of a de-escalation of geopolitical risks after Russia said Putin and Trump are finalising details for a meeting.
Stocks were also bolstered by Trump's vow to exempt businesses that move production to the USA after stating plans for a 100% tariff on semiconductor imports.
source : FinancialJuice
